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IOL News
4 days ago
- Business
- IOL News
Gauteng's R886 million budget announcement: Democratic Alliance's critical response
The DA has reacted to the additional R886 secured by Gauteng's MEC for Finance and Economic Development, Lebogang Maile, who has announced his reconfigured budget speech on Tuesday. Image: Itumeleng English / Independent Newspapers The DA in Gauteng has reacted strongly against the additional R886 million tabled by Gauteng MEC for Finance and Economic Development, Lebogang Maile, on Tuesday. Despite Gauteng's financial difficulties, Maile said he would turn things around as the province works to meet all of its goals for service delivery and economic development. On Tuesday, Maile delivered the revised provincial budget following Finance Minister Enoch Godongwana's delivery of his third iteration of the country's Budget vote over a week ago. Godongwana's proposed Budget is also being challenged in court due to the fuel levy increase, which replaced the controversial Value Added Tax increase. Following the previously tabled budget on March 18, which was made up of R171.5 billion on March 18, the revised budget, which was re-tabled at a briefing held at the Gauteng Provincial Legislature for the 2025/26 financial year, amounts to approximately R172.3 billion, representing an increase of R886.6 million. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Maile indicated that additional resources were made possible through the provincial allocation of unspent funds and revenue over collection from the previous financial year. To offset the challenges, Maile's budget looked at the pledges recently made by the private sector during the recent Gauteng Investment Conference, which reportedly raised more than R312 billion. "The State of the Province Address expressed a clear appreciation of the binding fiscal constraints in Gauteng and the country at large. This necessitates trade-offs and efficiency-driven spending to sustain the momentum critical to realising our aspiration to alleviate the 13 challenges confronting the province... "We also wish to once again extend sincere gratitude to private sector companies, both local and global, who, by making investment pledges at the recent Gauteng Investment Conference, affirmed their belief that Gauteng is a province worthy of its status as the nerve-centre of the regional and continental economy," Maile stated. His address comes just two weeks after Gauteng Premier, Panyaza Lesufi, during his State of the Province Address, detailed how the provincial government is planning to address 13 major challenges affecting the province for the year ahead. Echoing Lesufi's sentiments, Maile said: "As the provincial government, we will spare no efforts to reach the objectives we have promised to the people of Gauteng, which is a break with inefficient process, a break with corruption and maladministration, a break with fruitless and wasteful expenditure, a break with delayed payments to service providers, and a break with lack of accountability. "We commit to progress, improvement in service delivery, and a definitive change in how we build a provincial economy that grows in the hands of the people of Gauteng." However, DA shadow MEC for Economic Development in the province, Ruhan Robinson, indicated that the additional R886 million is still not enough to meet the needs of the residents. "The R886.6 million added to the Gauteng budget during the re-tabling of the national Budget will not make a significant difference in the quality of life and service delivery for the people living in this province. "It is concerning that no additional funding was allocated to the Gauteng Department of Health. This department is plagued with numerous challenges, ranging from surgeries being cancelled due to budget constraints, which puts patients' lives in danger. Patients continue to suffer at Gauteng hospitals due to the department's failure to replace broken equipment such as heating systems and laundry machines. "Suppliers rendering services and products to Gauteng hospitals are suffering due to non-payment of invoices within 30 days. Despite all these challenges, Premier Panyaza Lesufi has committed to paying e-toll debt," Robinson stated. Robinson added that the decision to pay off the e-toll debt has made it difficult for the province to play around with its financial obligations, adding that the Nas' Ispani programme was another ill-conceived project that would worsen the situation.
IOL News
24-04-2025
- Business
- IOL News
R312.5 billion investment boom for Gauteng as provincial conference surpasses goals
Gauteng's MEC for Finance and Economic Development, Lebogang Maile, announced that the province secured over R312 billion Image: Itumeleng English / Independent Newspapers Gauteng's MEC for Finance and Economic Development, Lebogang Maile, announced that the province has secured over R312 billion in investment pledges at the inaugural Gauteng Investment Conference. The provincial government initially set a target of attracting at least R300 billion in new investment pledges as part of its broader goal to secure R800 billion in investments over the next three to five years. Speaking at the conference, Maile said the aim of the conference was "to catalyse the province's economic momentum and align with its broader integration goals". TARGET EXCEEDED | INAUGURAL GAUTENG INVESTMENT CONFERENCE, 2025 🇿🇦 We have managed secure pledges with an investment value of R312.5 billion. This is R12.5 billion more than our initial target. 1/5 — Lebogang Maile (@LebogangMaile1) April 3, 2025 He also highlighted that Gauteng contributes 33.2% to the country's Gross Domestic Product (GDP), adding that it is the largest provincial economy within the Southern African Development Community (SADC). Maile confirmed that the provincial government had exceeded its initial target, securing R312.5 billion in investment pledges, R12.5 billion more than the original goal. Get your news on the go, click here to join the IOL News WhatsApp channel. "We have managed to secure pledges with an investment value of R312.5 billion. This is R12.5 billion more than our initial target," Maile said. He further added that the pledges will be directed toward specific projects across all five development corridors of Gauteng, with the Central Corridor receiving R174.9 billion of the share. "These pledges have been directed towards specific projects across all 5 development corridors of Gauteng, with the Central Corridor receiving R174.9 billion of the share, the Eastern Corridor receiving R36 billion, the Northern Corridor receiving R13 billion, the Southern Corridor receiving R42 billion, and the Western Corridor receiving R23.7 billion," he said." "The broader Gauteng City Region has received pledges of R312 billion," he added. IOL Business
