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SA new cabinet ministers sworn in after reshuffle

SA new cabinet ministers sworn in after reshuffle

AFRICAN MIRROR REPORTER SOUTH African new Finance Minister Enoch Godongwana has been sworn in, along with several deputies. President Cyril Ramaphosa has fired his defence minister, appointed Godongwana as part of the 10 major changes to his cabinet and introduced a restructure of government departments. Godongwana, an ANC and SA Communist Party veteran was appointed as the new Finance Minister, to replace Tito Mboweni, who requested to be released from his position. After his swearing in, Godongwana said South Africa should be ready for some positive changes that he will introduce. Ramaphosa axed Defence and Military Veterans Minister Nosiviwe Mapisa-Nqakula,…
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SA unveils R38-billion relief for COVID-19, unrest

SA unveils R38-billion relief for COVID-19, unrest

ALEXANDER WINNING and WENDELL ROELF SOUTH Africa plans about R38-billion of relief measures to support businesses and individuals affected by recent unrest and COVID-19 restrictions, the finance ministry has announced. The interventions would be funded by better government revenues and by shifting around some spending, senior officials told a news conference, expanding on measures announced by President Cyril Ramaphosa on Sunday. Ramaphosa tightened lockdown restrictions at the end of June as coronavirus cases spiked, but he eased them on Sunday as the peak of a "third wave" appeared to have passed. His government's economic recovery drive was dealt a major…
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Zambia slams SA finance minister

Zambia slams SA finance minister

AFRICAN MIRROR REPORTER ZAMBIA has slammed South African Finance Minister Tito Mboweni labelling his conduct undiplomatic and saying he is not fit for his position in government. Zambia, a political ally of SA, was angered by Mboweni Twitter post in which he said the Lusaka Airport was not much of an airport.  Dora Siliya, Zambia’s Minister of Information and Broadcasting Services and chief government spokesperson was scathing in her response to Mboweni’s social media post. Siliya said the Zambian government was extremely disturbed by Mboweni’s conduct “which totally demonstrated that he is unfit to occupy public office”. The minister said…
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The 2021″budget of hope”: tax reliefs, “sin taxes” hike

The 2021″budget of hope”: tax reliefs, “sin taxes” hike

AFRICAN MIRROR REPORTER SOUTH African Finance Minister Tito Mboweni today unveiled a 2021 “Budget of Hope” which contained tax relief measures, more government spending to stimulate economic activity as well as increases in the prices of alcohol and fuel. Mboweni revealed that the government has set aside R19.3-billion for the purchase of COVID-19 vaccines for a nation where over 50 000 people have died and over 1.3-million have been infected. No new taxes would be introduced to fund the vaccines, which will be provided free of charge for the majority of South Africans. He also tabled a Budget that did…
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South Africa’s ‘painful’ ratings downgrade will raise borrowing costs – minister

South Africa’s ‘painful’ ratings downgrade will raise borrowing costs – minister

Finance Minister Tito Mboweni. Photo: GCIS SOUTH Africa's finance ministry says the ratings downgrade by Moody's and Fitch will increase the country's borrowing costs and constrain its fiscal framework. "The decision by Fitch and Moody's... is a painful one," Tito Mboweni, Minister of Finance, said in a statement. There is an urgent need for government to implement structural economic reforms to avoid further harm to the country's sovereign rating, he said. Credit rating agencies Fitch and Moody's lowered South Africa's sovereign ratings further into junk late on Friday on rising debt and more likely weakening in the fiscal strength, while…
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South Africa reprimands finance minister over Zambia comments

South Africa reprimands finance minister over Zambia comments

AFRICAN MIRROR REPORTER SOUTH African President Cyril Ramaphos has strongly rebuked his Finance Minister Tito Mbowei over out-turn remarks that made over the sacking of Zambian central bank governor Governor Denny Kalyalya. After Zambian President Edgar Lungu removed and replaced him with former deputy finance minister Christopher Mphanza Mvunga. Mboweni took to Twitter to express his unhappiness. Mboweni said: “Presidents in Africa must stop this nonsense of waking up in the morning and fire a central bank governor. You cannot do that. This is not some fiefdoms of yours! Your personal property?! No! “That governor was a good fella. Why…
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Finance minister’s kitchen dance provides comic relief

Finance minister’s kitchen dance provides comic relief

AFRICAN MIRROR REPORTER SOUTH African Finance Ministers is a man of many talents. He is widely respected for his economic insights and leadership. Mboweni skills in the kitchen are legendary and are as deeply appreciated as is his frank political views about difficult political issues, often shared on Twitter.  However, the social media community is clear that Mboweni needs some dancing lessons or stick to the pots and pans in the kitchen.   His latest Twitter posting, an attempt to join the millions across South Africa and the world dancing to the viral hit #Jerusalema, has left many in stitches. Other…
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IMF grants South Africa $4.3-billion COVID-19 loan

IMF grants South Africa $4.3-billion COVID-19 loan

AFRICAN MIRROR REPORTER THE South African government’s battle to save an economy and livelihoods battered by COVID-19 has received a major boost.  The International Monetary Fund (IMF) has approved a $4.3-billion emergency loan to assist the country to mitigate the social and economic impact of the pandemic. The IMF loan has however generated debate in South African where some, including trade unions aligned to the ruling ANC, have expressed reservations. The South African government said the IMF low-interest loan would contribute to the government’s fiscal relief package while respecting the country’s decisions on how to best provide relief to the…
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