Banks, BASA, Treasury agree to curb irresponsible lending

Banks, BASA, Treasury agree to curb irresponsible lending

Representatives of major retail banks, the Banking Association of South Africa (BASA) and the National Treasury have signed an agreement aimed at improving responsible lending and preventing households from being caught in a debt spiral. In a joint statement on Thursday, the parties expressed concerns at the excessive lending to households even when such loans […]

Unemployment rate rises

Unemployment rate rises

South Africa’s unemployment rate had increased from 24.9% to 25.5% in the third quarter of 2012, said Statistics South Africa (Stats SA) on Thursday. Releasing the third Quarter Labour Force Survey (QLFS) on Thursday, Stats SA said the number of unemployed persons, at 4.6 million in the third quarter of 2012, was the highest level […]

Davies: B-BBEE an imperative for SA

Davies: B-BBEE an imperative for SA

Broad-Based Black Economy Empowerment (B-BBEE) will continue to be regarded as an imperative in South Africa, says Trade and Industry Minister Rob Davies. Addressing the New Age Business Briefing in Sandton on Monday, Davies said B-BBEE was an imperative from the point of view of equity and had a political dimension. “We cannot have an […]

Cabinet welcomes plan to protect economy

Cabinet welcomes plan to protect economy

Cabinet has welcomed the key elements of the package agreed upon with the NEDLAC constituencies to respond to the economic challenges facing the country. The package, which was agreed upon after talks earlier this month between government, business, labour and social partners, aims to instil confidence in the economy and to indicate to the nation […]

Gordhan: SA’s sound institutional framework will steady country

Gordhan: SA’s sound institutional framework will steady country

South Africa’s sound institutional framework, built on the foundation of the Constitution, will hold the country in good stead as it faces uncertainty at home and abroad, the Minister of Finance Pravin Gordhan said yesterday. Presenting his Medium Term Budget Policy Statement in the National Assembly, a hopeful Gordhan said the country would stand firm […]

Gordhan proposes measures to help state spend smarter

Gordhan proposes measures to help state spend smarter

Finance minister Pravin Gordhan detailed several initiatives to reign in the widening deficit and improve the impact of spending by, among other things, investing the balance of resource allocation in new infrastructure. Presenting his Medium Term Budget Policy Statement in the National Assembly, Gordhan said the budget deficit was expected to widen from 4.2% in […]

MPs welcome Gordhan’s measures to contain debt

MPs welcome Gordhan’s measures to contain debt

MPs have welcomed the Minister of Finance Pravin Gordhan’s measures to clamp down on public debt, following his tabling of the Medium Term Budget Policy Statement in the National Assembly yesterday. ACDP MP Steve Swart said: “He sent a very strong message to investors and credit rating agencies, that we are following a prudent fiscal […]

Growth in SADC region holds opportunities for SA business

Growth in SADC region holds opportunities for SA business

With the continued gloomy outlook in Eurozone countries and a slow down in growth in a number of developing economies, a rapidly growing Sub-Saharan Africa holds clear opportunities for South African businesses, the Minister of Finance Pravin Gordhan said yesterday. Tabling his Medium Term Budget Policy Statement in the National Assembly today, Gordhan said opportunities […]

Gordhan: Depts must seek greater value for money

Gordhan: Depts must seek greater value for money

Departments will have to consolidate programmes and activities, and seek greater value for money from what is available in the Fiscus, the Minister of Finance Pravin Gordhan said yesterday. Presenting his Medium Term Budget Policy Statement, Gordhan said budget allocations to departments remain largely unchanged over the 2012 Budget, reflecting the challenging economic environment and […]

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