South Africa’s wealthiest individuals will bear the brunt of higher taxes introduced by finance minister Pravin Gordhan to plug a revenue shortfall as economic growth falters. The top marginal income-tax rate for about
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Government budgets across the world are often delivered with some fanfare. South Africa is no exception. In February every year, South Africa’s minister of finance presents his budget speech to parliament amid national excitement. As the
Many see the decision by the ANC to send the disgraced former CEO of the power utility Eskom to parliament as the precursor to another attack on the national treasury and to remove finance minister Pravin Gordhan. The decision to give Brian Molefe
Finance minister Pravin Gordhan said he is “not indispensable” as he prepares to present the annual budget following almost a year of speculation that he might lose his job. “We are just humble civil servants,” Gordhan said in an interview
A year after President Jacob Zuma began feuding with finance minister Pravin Gordhan over control of the nation’s purse strings, the conflict appears to be coming to a head. When he presents his annual budget in parliament on Wednesday
Brian Molefe is set to become a member of parliament for the ANC, prompting speculation that President Jacob Zuma intends installing the former Eskom CEO as the new minister of finance, replacing Pravin Gordhan. Parliament said late
Investors are developing thick skins to political risk in South Africa. The rand is among the world’s top 10 best performers this year despite speculation that President Jacob Zuma may fire finance minister
Finance minister Pravin Gordhan has told his cabinet colleague in charge of welfare that her plan to extend a contract with a unit of Net1 UEPS Technologies would be “unlawful”, a letter
With his time as leader of the ANC running out, President Jacob Zuma is gambling that a raft of populist measures can bolster his grassroots support and ensure his political survival. “Radical economic transformation” was the theme of Zuma’s
South Africa’s central bank has recommended rejecting a bid to buy Habib Overseas Bank’s local unit because of concerns about the source of the two businessmen’s income and tax declarations