budget

Unqualified Audit Report for Gauteng Municipalities

The financial management of municipalities in Gauteng is steadily improving, according to the MEC for local government, Kgaogelo Lekgoro.

Lekgoro says 11 out of 14 municipalities in Gauteng have received unqualified audit opinions, marking an improvement from the previous financial year when there were only eight.

"When the finances of municipalities are spent and managed properly it restores confidence in the leadership of government and it strengthens the provision of services to communities," explains Lekgoro.

Africa on the Agenda at G20

With South Africa being the only African country with a seat on the Group of 20 (G20), while serving as co-chair of the working group on reforming the International Monetary Fund, it has "a moral obligation towards the continent to call for more responsible management of the global financial system".

Financial Crisis: Will Donors Deliver on Aid Commitments or Buckle?

It is that time of the year again when reports about how well donors have performed in meeting their aid commitments are released. This year is unique because of the devastating effects of the global financial crisis. What is on everyone’s mind is: will donors sustain their commitments or will they buckle under the heavy weight of the global financial crisis?

Inflation Hike for Zimbabwe

The Central Statistical Office reported yesterday that Zimbabwe's inflation quickened to 0.6% month on month in June from -1.0% in May.

Zimbabwe’s new unity government, formed by rivals President Robert Mugabe and Prime Minister Morgan Tsvangirai in February, has adopted the use of multiple currencies to stop hyperinflation, which rendered the country’s currency worthless.

The CSO, which resumed calculating inflation figures in December, having last released data for July 2008, did not give year-on-year statistics.

SABC Interim Board Examining Finances

The newly appointed South African Broadcasting Corporation (SABC) interim board is examining the costs of each of the beleaguered broadcaster's departments "line by line", chairperson Irene Charnley said on Tuesday.

"We need to stabilise the SABC at all levels. The situation is not normal. Financially the organisation is in dire straits."

The SABC reported a financial loss of R839-million for the 2008/09 financial year. The broadcaster had asked the government for a R2-billion bailout.

Zim NGOs Demand Seized Funds

NGOs want Zimbabwe’s cash-strapped power-sharing government to return money seized by controversial central bank governor Gideon Gono and allegedly used to prop up President Robert Mugabe’s old government.

The National Association of NGOs (NANGO) says it has written to Finance Minister Tendai Biti demanding that he outline a repayment plan when he announces a mid-term national budget statement to Parliament this week.

Sustainability in Difficult Times

Much is being discussed and written about regarding the global recession. We will only be able to see the full effect of this on funding when we look back in a year or two and can calculate the actual impact. Anecdotally though, there are many stories of reduced funding from foreign donors hardest hit by the crisis, and corporate donors whose profits are down and whose giving is often based on a percentage of net profits after tax.

NGO Urges Zuma to Act on Recession

The Black Sash says President Jacob Zuma must tell South Africans how he is going to help the millions of unemployed and working poor who are facing a desperate daily struggle to survive the current recession.

Black Sash spokesperson, Nkosikhulule Nyembezi, called for Zuma to announce social grants for the unemployed and special attention for the country's 2,7 million unemployed young people.

Nyembezi says Zuma should also send out a loud and clear message that he will prevent any further xenophobic attacks in the country.

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