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  • South Africa mulls tax rebates, subsidies to boost local EV industry
    South Africa is considering introducing tax rebates or subsidies for consumers to boost buying of electric vehicles, President Cyril Ramaphosa said on Thursday, as Africa's most industrialised economy transitions its automotive industry.
    Global automakers like Ford, Volkswagen, BMW and Toyota manufacture models in South Africa for both the local and European markets. Britain and the European Union jointly consume 46% of the vehicles the country produces.
    The move towards cleaner and more sustainable fuels, plus stringent regulation in key markets, is putting pressure on some global automakers to shift towards electric and hybrid models, Ramaphosa said at an automotive industry conference.
    As a result, South Africa's automotive industry is positioning itself to take advantage of the demand for new energy vehicles.
    "Consideration must be given to incentives for manufacturers, as well as tax rebates or subsidies for consumers, to accelerate the uptake of electric vehicles," Ramaphosa said.
    To encourage the production of electric cars in South Africa, the government will introduce an allowance for new investments from March 1, 2026, Finance Minister Enoch Godongwana said in February in his budget.
    This will allow producers to claim 150% of qualifying investment spending on electric and hydrogen-powered vehicles in the first year.
    Ramaphosa added that the government is working to finalise comprehensive policy guidelines on so-called new energy vehicles "that do not exclude alternative technologies such as hybrids and plug-in hybrids".
    Last year, the minister for trade, industry and competition published a white paper outlining steps to support the transition such as government incentives and a temporary reduction on import duties for batteries in vehicles produced and sold in the domestic market.
    The paper also advocated the production of batteries for battery electric vehicles in South Africa and the development of value chains in the green hydrogen fuel cell market.
    "We are committed to working hand-in-hand with the private sector to promote the production of new energy vehicles and the development of the necessary infrastructure to support them," Ramaphosa said.
    3 min
  • South Africa could lower inflation target at little cost, central bank governor says
    South Africa's central bank governor, Lesetja Kganyago, said on Thursday that the country could move to a lower inflation target at little cost.
    Kganyago is a strong advocate for a lower target than the bank's current 3% to 6% range and told Reuters in April that teams from the central bank and National Treasury were in talks about the issue.
    Speaking in a lecture at the University of Stellenbosch, Kganyago said reducing the target could help achieve lower inflation and interest rates, drawing on the experience of the bank stressing that it prefers to see inflation close to 4.5%, the midpoint of its target band, since 2017.
    "Executed effectively, a lower target could be achieved at little cost, just as we moved to 4.5% at little cost," Kganyago said.
    The governor cited studies that showed there had been little to no negative impact on economic growth from the bank's decision to stress its preference for 4.5% inflation, rather than treating 3% to 6% as a "zone of indifference".
    He said the emphasis on the 4.5% midpoint had helped lower inflation through "clear and credible communication".
    In April, Kganyago told Reuters that he personally hoped a decision could be taken to lower the inflation target before 2025.
    Other arguments given by Kganyago for lowering the bank's current target include that it is out of kilter with South Africa's emerging market peers, too wide and serves to anchor inflation expectations higher than policymakers would like.
    South Africa introduced its inflation-targeting framework in 2000, and had planned to lower the target to 3%-5% and then 2%-4%.
    2 min
  • Tito Mboweni honoured with official funeral
    Former Reserve Bank Governor and Labour and Finance Minister, Tito Mboweni, has been accorded a Special Official Category 2 Funeral.
    Mboweni passed away last week Saturday following a short illness. He was 65 years old.
    The funeral will take place at Nkowankowa Stadium, in Tzaneen, in Limpopo, at 10h00 on Saturday.
    President Cyril Ramaphosa said the South African Police Service will provide ceremonial elements at the funeral and the National Flag be flown at half-mast at all flag stations from Wednesday morning, until the evening of the funeral on Saturday.
    Ramaphosa described Mboweni's service to South Africa as an activist, economic policy innovator and champion of labour rights, praising his "sharp focus on fiscal discipline and economic transformation".
    Mboweni was democratic South Africa's first Minister of Labour from 1994 to 1999 in the Cabinet of Founding President Nelson Mandela.
    He served as Governor of the South African Reserve Bank for a decade from 1999.
    From 2018 to 2021, Mboweni served as Minister of Finance in the administration led by President Ramaphosa.
    2 min
  • ANC’s primary objective is outright electoral majority, GNU was a ‘tactical choice’, says Mbalula
    African National Congress (ANC) secretary-general Fikile Mbalula said on Wednesday that the Government of National Unity (GNU), which the party entered into with 10 opposition parties, was a "tactical choice" made so that the ANC could rebuild its electoral base and reconnect with communities ahead of the local government elections in 2026.
    In a statement titled 'ANC succession debate - A non-starter', Mbalula stressed that the ANC's objective was an outright electoral majority that would allow it to govern without other parties.
    "Such a victory is neither for its own sake nor for the leaders, but to enable accelerated national transformation and deliver on our manifesto commitments," he said.
    For the first time since it came to power in 1994, the ANC lost its outright majority, resulting in the formation of the GNU.
    Ahead of the 2026 local government elections, Mbalula said the ANC was focussed on addressing the reasons for the decline in electoral support and was rebuilding on-the-ground support.
    He stressed the importance of service delivery and called on ANC branches to respond to the challenges affecting their respective communities.
    Further, he said the ANC was committed to renewal and warned against the apparent narrative of succession battles within the party.
    "This narrative is driven by the belief that the ANC must essentially exist as a tool to contest power in order to advance self-aggrandisement. A belief suggestive that the ANC is a feeding trough, hence an insatiable scramble for leadership. This narrative is premised on a misguided analysis of our body politic, whether by default or by design. It is equally a mischievous effort aimed at detracting us from the task at hand of renewal and reversing our electoral fortunes," Mbalula said.
    The party's fifty-sixth national conference is only set for 2027, which Mbalula says reinforces the fact that jostles for leadership positions are a "figment of the imagination of those peddling these stories."
    He described this as a reductionist approach to the party's leadership issues and said the ANC would not engage in factional debates that hold no value for the its renewal.
    3 min
  • Busisiwe Mkhwebane quits EFF
    One year after announcing her membership of the Economic Freedom Fighters (EFF), former Public Protector Busisiwe Mkhwebane has announced her resignation from the party.
    Mkhwebane took to the X platform, on Wednesday, where she said she had taken the decision to spend more time with her family.
    She thanked the EFF for its support after laying out alleged harassment that she and her family had received since she was removed from the Public Protector's office by the National Assembly in September 2023.
    She claimed that during her years as Public Protector her rights were violated, stating that the last seven years had made her realise that "our fight for freedom was in vain".
    She went on to allege that her removal from office was unconstitutional.
    "I have encountered challenges and felt let down by the current South African Judiciary, Parliament, Executive, and more especially the mainstream media who seem to have been tasked to target and attack my character," she said.
    She attributed her supposed trials and tribulations to her role in the CIEX /South African Reserve bank report, and investigations into the CR17 donations and Phala Phala saga.
    "My sin was delivering reports and findings against certain individuals who were offended and felt I needed to be dealt with harshly. My family was attacked, my mother who later passed away never knew peace after journalists harassed her. I survived many attempts where there were plans to take my life. Today, I'm saying goodbye to you, Fighters. After careful consideration and talking to my family, they advised and felt I needed to go away. Spend time with them, rest, and continue to fight for the vulnerable where possible," Mkhwebane stated.
    She credited the EFF for helping her in her "time of need" and said the party was a refuge for her during her membership.
    She said the party was a "beacon of hope" for her.
    "Now, it is time for me to focus on spending cherished moments with my family. Thank you for standing by me. With heartfelt appreciation, until we meet again....Aluta Continu," she ended.
    3 min
  • Shamila Batohi affirms NPA’s independence
    National Director of Public Prosecutions (NDPP) Shamila Batohi said on Tuesday there has been no interruption of the National Prosecuting Authority's (NPA's) work, affirming that the entity operates independently.
    Batohi was speaking during the Institute for Security Studies' webinar on future-proofing the NPA, where she pointed to the importance of constitutional independence.
    She relayed a talk with President Cyril Ramaphosa, wanting assurance that there would never be any interference by him in the work of the NPA.
    "...and I can say this without fear of any contradiction that up until today, there has been no interference at all in the work, from any executive members," she asserted.
    Batohi was appointed to head the NPA in 2018 by Ramaphosa and her term office will end in 2026. She is the first woman to be appointed permanently as NDPP.
    She said functional independency is important, where the director is able to deliver effectively on their mandate.
    However, she pointed out that financial and operational indecency has undermined the leadership of the NPA and has made it difficult to ensure that it can effectively implement many of its strategies.
    Meanwhile, she highlighted the role her office played in obtaining the budgets needed for the NPA's work, saying they forced themselves in budgets conversations.
    "But, fortunately, we have been with the Minister of Finance because we have been engaging directly and we were doing our own budget advocacy - forcing our way in. We were able to get the budget that we need," she said.
    2 min
  • Ramaphosa approaches ConCourt to rule on constitutionality of Copyright and Performers' Bills
    The Copyright Amendment Bill and Performers' Protection Amendment Bill have been referred to the Constitutional Court, by President Cyril Ramaphosa, to assess their constitutionality.
    The Copyright Amendment Bill aims to update the Copyright Act 98 of 1978 to make it more effective for educators, researchers, and people with disabilities while also providing certain protections for artists.
    The Performers' Protection Amendment Bill seeks to safeguard the moral and economic rights of performers, as well as the rights of producers of sound recordings.
    In a statement from the President's office on Tuesday, Ramaphosa expressed reservations about specific provisions within the legislation.
    "These provisions address the process by which the President assents to Bills, including the ability to refer draft legislation back to Parliament after it has been passed if there are concerns regarding its constitutionality," he stated.
    Although the Bills were approved by Parliament and reconsidered at Ramaphosa's request, the President ultimately referred them to the Constitutional Court for a ruling, as allowed by the Constitution.
    2 min
  • SIU investigations, recoveries saved govt R8bn
    In its 27 years of operation, the Special Investigating Unit (SIU) has marked its highest ever recovery of R2.28-billion in cash from investigations, litigation and recoveries, as it revealed it saved government from bleeding a whopping R8-billion in the 2023/24 financial year.
    The SIU's Annual Report said the organisation prevented the State from losing R2.32-billion and secured cash from acknowledgement of debts and admission of liability agreements to totalling R1.6-billion.
    Further, contracts amounting to more than R2.13-billion were set aside, through the courts.
    In a statement issued on Tuesday, the SIU said its achievement emphasised the organisation's commitment to fighting corruption, as it highlighted an unqualified audit outcome for its own finances.
    SIU head Advocate Andy Mothibi said to Parliament's Portfolio Committee on Justice and Constitutional Development that most of the recovered funds were as a result of investigations into Transnet, Eskom and the National Student Financial Aid Scheme (NSFAS).
    "The Transnet recoveries amounted to R710 104 826,03, R500 000 000 from Eskom, and the NSFAS investigation totalled R191 027 281,50 by the end of the 2023/24 financial year. [Mothibi] also emphasised the success of the Medico-Legal investigation, which accounted for R1.98-billion of the R2.32-billion in prevented losses, showcasing the effectiveness of the SIU's work in protecting public funds," the SIU revealed.
    "In terms of matters, contract and/or administrative decisions and or actions set aside or deemed invalid, contracts emanating from the Eskom investigation contributed the most, with the contract value of R1 206 984 667,56," it added.
    The SIU closed 1 919 investigations and published 26 outcome reports to the President in the 2023/24 financial year, and include reports relating to NSFAS, the National Lotteries Commission, Prasa and the Masters' Office.
    It has also submitted evidence for civil proceedings and include matters relating to R2-billion from Eskom, R834-million from Transnet, R48.4-million from the City of Cape Town and R29.1-million from the eThekwini Municipality in KwaZulu-Natal.
    Notably, the SIU undertook lifestyle audits at Prasa, the Gauteng Office of the Premier, and the Free State Department of Community Safety, Roads, and Transport.
    The SIU referred 297 government officials for disciplinary action.
    "As the SIU concludes the final year of its five-year turnaround strategy, we remain resolute in our mission to combat corruption, fraud, maladministration and malpractice in the public sector. The next five-year strategy will build on the successes of the previous strategy and focus on developing and implementing the National Corruption Prevention Strategy and implementing best practices, including cyber and data analytics, and further business process digitisation programmes," the SIU said.
    4 min
  • Mashatile optimistic GNU will end its term successfully
    African National Congress (ANC) deputy President Paul Mashatile said on Monday that while the party believes the first 100 days of the Government of National Unity (GNU) have been successful, it cautioned that the GNU cannot survive with parties making "unreasonable demands".
    Mashatile said the ANC is happy about the success of the GNU government thus far, noting that since its formation, there is a stable and working government.
    President Cyril Ramaphosa is set to reflect on the first 100 days of the seventh administration, on Monday evening.
    Mashatile highlighted that there were those who thought that the new government, consisting of 11 political parties, would have squabbles and quarrels.
    "…but in fact, the truth is that all the parties are working well together. We see ourselves as one team. When we are in cabinet and we are doing our work, we do not say this one is from the ANC, this one is from Patriotic Alliance or the Democratic Alliance, we just say we are a GNU team," he said.
    All ministers are accountable to the President, he said, and only the President can appoint and give tasks to ministers.
    Mashatile stated that the GNU is a government at work, and believes that it will last until its term finishes, citing the Statement of Intent, which all parties signed.
    "We are planning to work together for the next coming years until we end the term successfully," he said.
    Mashatile said any challenges along the way will be dealt with.
    "Some of you might know that three weeks ago the leaders of the GNU met, and they agreed that we must have a structure [clearing house], which will chaired by myself that will look at any issues that need to be attended to," he said.
    The first meeting of the clearing house, which seeks to resolve disputes within the GNU, will be held on Thursday in Cape Town, where Mashatile is expected to meet with all GNU party leaders.
    He denied any allegations tensions within the multi-party government.
    "Helen Zille and Panyaza Lesufi, I think they will be able to resolve their issues, as far as I am concerned. We said to the government in Gauteng led by the ANC, if the DA does not want to work with you in Gauteng, leave them behind. It is not your problem, and they must not make it our problem nationally, because we are working with them nationally," he said.
    This was in reference to the recent ousting of DA Mayor Cilliers Brink in Tshwane and allegations made by the DA that Lesufi had been fuelling tensions in the GNU.
    Lesufi said it is up to the DA to ensure that it works well with ANC structures in provinces and added that the ANC wants the DA to work with its structures.
    "Our structures in Gauteng came to us to say the DA is making impossible demands and therefore we cannot proceed, and we said leave them [DA] behind. If they are not reasonable go without them," he said.
    He pointed out that this does not mean the ANC does not want to work with the DA.
    4 min
  • Politicians pay tribute to 'committed leader' Tito Mboweni
    Fellow politicians of former Reserve Bank Governor and Labour and Finance Minister Tito Mboweni have described him as an activist, a steadfast opponent of corruption and a committed leader.
    This after news of Mboweni's death on Saturday following a short illness. He was 65 years old.
    Between 2018 and 2021, Mboweni served as Minister of Finance in the administration led by President Cyril Ramaphosa and before that, he served as Governor of the South African Reserve Bank for a decade from 1999.
    He was democratic South Africa's first Minister of Labour between 1994 and 1999 in the Cabinet of founding President Nelson Mandela.
    Ramaphosa said Mboweni's death came as a shock "given his sense of vitality and energetic and affable engagement with fellow South Africans".
    He said South Africa had lost a leader and compatriot, who served the nation as an activist, economic policy innovator and champion of labour rights.
    "As Governor and Finance Minister, he had a sharp focus on fiscal discipline and economic transformation. Tito Mboweni distinguished himself in different strategic roles in the private sector and was a flag bearer in global forums for our economy and developing economies more broadly," Ramaphosa said.
    African National Congress (ANC) national spokesperson Mahlengi Bhengu-Motsiri said Mboweni was among the giants that sacrificed their own lives for the liberation of the country and its people.
    She noted Mboweni's contributions to the country's democracy and post-apartheid economic landscape, saying they were immeasurable.
    Democratic Alliance (DA) national spokesperson Karabo Khakhau said Mboweni's legacy in South African politics was long and significant, describing him as a steadfast opponent of corruption and noting that he consistently championed fiscal responsibility.
    "He worked tirelessly to steer the economy toward growth while mitigating the impact of rising debt levels. He will be remembered as a patriot who stood for what was right, even in challenging times, and as a humble and principled man at heart," she said.
    The DA said his passing was a profound loss for South Africa and that his contributions would not be forgotten.
    The Inkatha Freedom Party (IFP) said Mboweni was instrumental in fostering national reconciliation, social cohesion and dignity in the work space through labour law reforms.
    "His contributions to our country's economic development, during his tenure as Minister and Governor of the Reserve Bank, will be one to tell generations about," the party added.
    Economic Freedom Fighters (EFF) leader Julius Malema saluted Mboweni for his contribution in the struggle against apartheid and the many strategic institutions and departments he led, noting that Mboweni was never accused of any corruption or maladministration.
    He described Mboweni as a committed leader who was always interested in putting the interests of people first.
    Malema said he would miss the long telephone conversations that he used to have with Mboweni.
    Meanwhile ActionSA Leader Herman Mashaba extended his condolences to Mboweni's family and his friends in the ANC.
    "As someone who has actively taken part in events leading to the end of apartheid, the ushering of the democratic era and, in his own unique ways, in often pushing back even against the excesses of his own comrades in favour of reason, it is safe to say that Mr Mboweni has lived a full life of an activist for good. This is despite the relatively young age of his passing," Mashaba said.
    He said the country needed more voices like that of Mboweni's, to call for order.
    GOOD leader Patricia de Lille pointed out that under Mboweni's leadership, the nation's budget largely succeeded in navigating the fine line between bare economic survival and the fiscal cliff.
    He navigated the country's finances during the Covid-19 pandemic, making provisions for the much-needed vaccination drive and the Social Relief of Distress Grant, she pointed out.
    "As South Africans, we are grateful for his ...
    6 min

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