ECONOMY: A plan that unites business

South Africa

The National Development Plan has for the past few years been a highly supported Government-commissioned plan. Finweek takes a look at what can be expected for South Africa’s private sector in the following years.

ENTREPRENEURSHIP: Labour regulation hampers entrepreneurial growth

work

Although South Africa embraces a culture of entrepreneurship, there are still significant stumbling blocks of which labour regulation tops the list. The report found the cost of firing workers as the most notable detractor for entrepreneurship, and the results of the World Economic Forum (WEF) confirms this.

NEWS: No state funding for injured Marikana miners

South Africa

Radebe and his ministry held a press briefing this morning after both the Gauteng High Court and the Constitutional Court had rejected the Marikana miners’ request that the courts compel government to pay their legal fees. Radebe said government departments which take part in the hearings are represented by private legal practitioners because they are entitled to legal representation at government’s expense as employees of government.

Good and bad in government Development Indicators

Opportunity

“Welcome to a good-news briefing,” is how Collins Chabane, Minister in the Presidency for Performance Monitoring and Evaluation, greeted journalists this morning at parliament.

City finances under the spotlight

Johannesburg

Rapid urbanisation is putting more pressure on South Africa’s large metropolitan cities to deliver services to more people, pushing up service charges to consumers.

NYDA’s existence questioned

metro

Scandals, malfunctioning and mismanagement continue to rock the National Youth Development Agency (NYDA), but ANC MPs insist that the controversial body “gives hope” to the youth of South Africa.

NEWS: NHI green around the gills

doctor

The preparation phase of the NHI pilot project kicked off in April last year and was funded by a R1bn conditional grant from National Treasury. This morning’s report, however, paints a grim picture: as of 1 June this year, 556 primary healthcare facilities in the identified districts have been prioritised, but their readiness for the rollout of primary healthcare leave a lot to be desired.

NEWS: Tax review dream team announced

tax

Finance Minister Pravin Gordhan yesterday announced the names and terms of reference for the long-anticipated tax review committee. In his budget speech in February, Gordhan announced his intention to assess South Africa’s tax policy framework and to see whether it is supporting inclusive growth, employment, development and fiscal sustainability.

NEWS: Import surge leads to negative trade balance

global trade

Davies pointed out that the playing field with regard to agricultural trade is all but level. “Anybody who thinks agricultural trade operates on free market principles; I don’t know what you’ve been smoking,” he said, citing the “enormous” subsidies EU countries receive for their agricultural products. “Some of these subsidies have been calculated to be more than the gross national product of some African countries. So it means that a country that is being subsidised has enormous capacity to enter markets at the expense of local producers.”

Elections behind cabinet reshuffle

chess

President Jacob Zuma’s latest cabinet reshuffle – his fourth since he took office in 2009 – was much more than mere retribution, or a stance against non-performance and corruption. It was a careful and strategic positioning of the ANC’s alliance partners in key ministries to keep them happy ahead of next year’s general elections.