Finance minister Tito Mboweni has urged Sanral to reverse a decision not to chase down people who aren’t paying electronic tolls to fund a freeway upgrade around Johannesburg and Pretoria.
Browsing: Tito Mboweni
Finance minister Tito Mboweni said a discussion must begin on whether the government needs to retain control of all the assets it currently owns given the poor state of the national finances.
Finance minister Tito Mboweni will “work relentlessly” with communications minister Stella Ndabeni-Abrahams to ensure additional radio frequency spectrum is allocated as soon as possible.
South Africa plans to cut the state wage bill over the next three years to keep spending under control as the economy flags and it bails out the struggling state power utility.
The sorry state of South Africa’s state power utility starkly illustrates just how far the country slipped during former President Jacob Zuma’s scandal-marred rule and the enormity of the task of rebuilding the nation’s stricken finances.
The R100-billion debt support Eskom has requested from government is not nearly enough to return the struggling utility to sustainability, says Business Unity South Africa.
Finance minister Tito Mboweni is looking for a way to keep the country’s main power producer from sucking the life out of the economy.
Eskom is moving to stage-4 load shedding with effect from 1pm on Monday. This means that the utility will shed 4GW of electricity, up from the 2GW it was shedding on Monday morning.
The easiest way to rescue ailing state power utility Eskom would be for government to assume part of its R419-billion of debt, CEO Phakamani Hadebe said.
The Public Investment Corp’s board of directors offered to resign amid an inquiry into allegations of wrongdoing, throwing the South African manager of more than R2-trillion deeper into crisis.