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Pravin Gordhan

South African Finance Minister Pravin Gordhan Delivers 2016 Budget

South African Currency Slumped as Finance Minister to Resign Over a Spat With Tax Commisioner

South Africa’s currency has dropped to its four-year low after the news of the country’s finance minister threats of resignation was reported. Finance minister Pravin Gordhan threatens to resign over a spat with Tom Moyane, as the minister demanded the tax commissioner to be dismissed, or he himself would leave.

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SAFRICA-ENERGY-ESKOM

Eskom to Receive Last Payment of 5 Billion Rand Bailout By Next Week

Next week, Eskom will be paid the remaining balance from the bailout. Eskom CE Brian Molefe expressed frustration to learn that Finance Minister Pravin Gordhan announced that the funds will be withheld. Treasury informed that the fund will be transferred and is already being processed.

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Opening Day Of The World Economic Forum (WEF) 2016

Public spending and inflation, key factors in new budget for South Africa

The new budget for South Africa may witness a major focus on government spending, sluggish global economy and inflation. The debt component is also increasing to about 50 percent of GDP. Global rating agencies have downgraded South Africa's sovereign credit rating.

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Opening Day Of The World Economic Forum (WEF) 2016

South African Finance Minister Orders Probe Into Eskom Coal Supply Deal

Eskom, a South African state owned power producer has attracted a probe over its deals for developing new power plants. Country’s finance minister has ordered the probe and cancelled post budget breakfast briefing scheduled to be broadcast by New Age newspaper. The move has been analyzed as a revolt within the government against Gupta family, intimate with President Jacob Zuma.

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