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Gaolathe PIC PHATSIMO KAPENG.
Gaolathe PIC PHATSIMO KAPENG.

Vice President Ndaba Gaolathe’s inaugural budget. The fight to rebalance the fiscus. The pursuit of a stake in De Beers. The reopening of the former Tati Nickel Mine. It has been a frenzied year for the economy. MBONGENI MGUNI recaps some of the top stories

Gaolathe’s debut budget

Vice President and Finance Minister, Ndaba Gaolathe delivered his inaugural budget on February 10, featuring lower spending than that approved for the prior financial year. However, with the prolonged diamond slump still weighing on revenues, the figures pointed to a deficit of P12.2 billion or just under eight percent of GDP.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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