Local

Postbank must be run separately from Post Office to protect depositors

21 November 2018

A new bill proposed by Treasury intends to amend five acts, including one which will affect state banks.

Treasury officials on Tuesday briefed the Standing Committee on Finance on the Financial Matters Amendment Bill, which was open for public comment between August 24 and September 14, 2018. The bill has been submitted to Cabinet for approval

There are five acts affected are the Insolvency Act, the Military Pensions Act, the Government Employees Pension law, the Banks Act and the Auditing Profession Act.

SA state departments and SOEs waste R2.5bn

21 November 2018 

R2.5bn down the drain. This is the amount of money the Auditor-General of South Africa (AGSA) found to have been fruitless and wasteful expenditure in South African state departments and state-owned Entities (SOEs).

This figure increased by more than 200% from the previous year, Auditor-General Kimi Makwetu said on Wednesday as he presented the AGSA's general report on national and provincial audit outcomes for 2017-'18.

Petrol pain: Govt needs to recoup about R2bn for fuel subsidy

18 November  2018

The state will likely recoup the R2bn that it subsidised the fuel price in November over two months rather than taking it all back in December.

This is according to Efficient Group chief economist Dawie Roodt, who added that rather than using the standard formula for calculating the fuel price, the government would directly play a role by deciding how much of the so-called Slate levy it wanted to recoup.

Emfuleni: Concerns raised about recovery plan as residents' satisfaction levels plummet

18 november 2018

With the Emfuleni municipality under provincial administration, and a team from National Treasury intervening, it was hoped that the troubled municipality would be turned around. But concerns have been raised about the turnaround plan, and a new survey shows that residents of the municipality are increasingly unhappy.

Emfuleni was placed under administration in June 2018. According to the Department of Cooperative Governance and Traditional Affairs, this was largely because of problems with financial administration and service delivery.

Courts deliver big wins for environment

South Africa’s environment law has a strange loophole. In theory, every activity that would harm the environment falls under the National Environmental Management Act (Nema) and the Acts linked to it. This allows the government to uphold everyone’s constitutionally guaranteed right to a healthy environment.
Nema is what should give the environment department teeth.

But mining is exempt because of a 2014 takeover by the mineral resources department of most environmental oversight for mining.

Herman Mashaba's ebola remarks 'border on xenophobia' - SAHRC

15 November 2018 

The Congress of South African Trade Unions (Cosatu) has rejected an apology by Johannesburg mayor Herman Mashaba for his remarks about ebola.  And the Human Rights Commission says it will be contacting Mashaba about his remarks "which could be regarded as a violation of the constitution".

The union in Gauteng urged city residents not to accept the apology because it was not “genuine”. 

Mashaba made controversial remarks on Twitter about his citizen's arrest of an undocumented foreign national pushing cow heads in a trolley in the CBD.
 

Massive fuel price drop on the cards for December - AA

15 November 2018 

The Automobile Association announced on Thursday that, based on current data, SA motorists could expect ‘massive drops’ in the prices of petrol and diesel for December. 

The association is predicting a drop of R1.54 per litre for petrol, with diesel dropping by 92 cents and illuminating paraffin by 85 cents.

The current coastal price for unleaded 95 octane petrol per litre is R16.49. If it were to fall by R1.54 per litre, it would cost R14.95. The cost for the same grade of petrol inland would be R15.54 per litre.
 

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