The National Treasury has lifted its funding freeze for 42 of the 69 municipalities that had their July equitable share withheld due to financial mismanagement. Ten municipalities have received their full allocations worth R1.7 billion after addressing the Treasury’s concerns. Another 17 municipalities received R2.9 billion, but only to pay outstanding debts to creditors such […]
MEADOWLANDS- The Gauteng MEC for Finance, Nkululeko Dunga, will host a media briefing on Thursday, 14 May 2026, to present the province’s financial status and outline key departmental priorities. He recently took over the finance portfolio and will address how the Gauteng Provincial Government manages its R179.2 billion budget for the 2026/27 financial year. The […]
NATIONWIDE- National Lotteries Commission (NLC) says it remains focused on supporting community development despite challenges experienced during its 2024/2025 funding round. The commission received over 3,000 applications through its new Thuthuka online system, with only compliant organisations considered for funding. More than 1,200 applications have already been processed, representing just under a third of the […]
JOHANNESBURG- South African consumers are facing increasing financial pressure, according to the latest Household Affordability Index. Rising fuel and food prices are continuing to stretch household budgets, with transport costs climbing due to higher global oil prices. Petrol and diesel prices are expected to rise further, which could push living costs even higher. Although government […]
The Department of Justice and Constitutional Development says it does not have enough funds to fully cover the six-month extension of the Madlanga Commission of Inquiry into police corruption. Justice Minister Mmamoloko Kubayi told Parliament that the department has already spent R123 million out of its R147 million allocated budget and has approached Finance Minister […]
SOUTH AFRICA- As South Africa marks Freedom Day, concerns about financial freedom remain widespread, with many citizens saying it still feels out of reach due to high unemployment and rising levels of debt. Economic pressure continues to weigh heavily on households, leaving many struggling to stay financially afloat. Experts warn that over-indebtedness is becoming a […]
Finance Minister Enoch Godongwana says he is still considering the future of the fuel levy after government introduced a temporary R3 per litre reduction at the start of the month. He told Parliament he will review the measure before making a final decision. Godongwana indicated that an announcement is likely on the 28th after consultations, […]
Chelsea reported a pre-tax loss of £262.4 million ($349.49 million) for the 2024-25 season, marking the largest annual loss in English football history. This surpasses the previous record of £194.9 million set by Manchester City in 2010-11. The club’s revenue rose to £490.9 million despite finishing fourth in the Premier League and winning the Europa […]
Fuel prices are set to rise sharply this week amid the Middle East conflict. The Central Energy Fund reports that 95-octane petrol will increase by R5,82 per litre, 93-octane by R5,32, and diesel could climb by R10,27, excluding a fuel levy adjustment of 21 cents per litre. The new prices take effect on Wednesday, April […]
The Department of Mineral and Petroleum Resources has confirmed that there are no immediate plans to announce relief measures for rising fuel prices. Officials emphasized that current fuel adjustments are influenced by global market trends and government policies. The statement comes amid growing public concern over the impact of fuel hikes on household budgets and […]