The ANC’s top decision makers have met to discuss how to deal with ailing state-owned companies whose deteriorating finances have emboldened critics of President Cyril Ramaphosa.
Browsing: Tito Mboweni
State-owned power producer Eskom will be the “death knell” for South Africa’s mining industry unless the government enables mines to produce their own electricity, according to Exxaro Resources CEO Mxolisi Mgojo.
Government is reviving a so-called energy “war room” to tackle the nation’s electricity crisis, as it brought forward the date when the incoming CEO of the state power utility will start work.
After months of speculation and delays, South Africa named André de Ruyter as CEO of its debt-crippled state power utility, surprising investors with an unexpected choice and angering a key union.
Finance minister Tito Mboweni has reiterated that government has decided to retain the user-pay principle and e-tolls on the Gauteng Freeway Improvement Project.
National treasury wants to forge ahead with long-stalled plans to sell state assets to shore up the nation’s shaky finances despite opposition from other government departments and labour unions.
Finance minister Tito Mboweni said on Wednesday that government will stop buying cellphones for public representatives and senior managers in the public service.
The cost of propping up South Africa’s debt-stricken state power utility is mounting, placing severe pressure on the national budget and exacerbating the risk it poses to the nation’s finances.
The rand plummeted and bonds extended declines as investors faced the stark reality of what bailouts for the embattled state power utility will cost South Africa.
An economy stuck in the longest downward cycle since World War 2, chronic electricity shortages and soft business confidence – after 20 months running South Africa, patience is wearing thin with Cyril Ramaphosa.