Latest news with #NationalTreasury
IOL News
3 hours ago
- Business
- IOL News
eThekwini Municipality achieves record 95% revenue collection rate
eThekwini mayor Cyril Xaba Image: eThekwini Municipality / Facebook The revenue collection rate in the eThekwini Municipality has surged to about 95%. The municipality expressed its satisfaction with the revenue collection rate recorded at the end of June, noting that this is the highest increase in five years and falls within National Treasury norms. Mayor Cyril Xaba attributed the success to targeted revenue enhancement strategies that the City has implemented. He vowed to continue putting pressure on the administration to ensure that the City does not regress on the current collection rate. 'Revenue collection is the engine behind expanding services. We must ensure that the spirit of the Masakhane Campaign lives among our communities by encouraging people to pay for services,' said Xaba. Among the revenue enhancement strategies championed by Mayor Xaba is the 50% debt write-off programme, which ended in June. The ongoing deceased estate debt write-off initiative and the migration of meter reading from line directorates (water and electricity) to the Revenue Directorate also form part of the revenue enhancement strategies. The migration of meter reading has assisted in addressing the challenge of estimated bills, as meters are now being read regularly, and customers are paying for the monthly services they have consumed. Meter reading in the City has improved to the extent that only 12% and 20% of water and electricity bills are estimated, respectively. One of the reasons contributing to some meters not being read includes a lack of access to properties. Xaba encouraged residents to use the Municipal App to upload their meter readings monthly so they can be billed for the services they have consumed. 'We have made technology available to our customers to make their lives easier. While our officials will continue to read meters, customers must also play their part,' said the mayor. He called on officials to expedite investigations in cases where customers complain about irregular spikes in their water and electricity bills. 'I am happy that the Revenue Directorate is dispatching technicians to recalibrate or change faulty meters so that residents are billed correctly,' said the mayor. He added that he was pleased that the order for electricity meters will be delivered by the end of next month. 'This will assist us in ensuring that all properties are properly metered, and the City can start collecting revenue from them. Our main priority will be properties that have bypassed meters and those that have benefitted from the deceased estate debt write-off programme. We want all our customers to be connected to services legally and account for their monthly consumption,' said Xaba. THE MERCURY
The Herald
3 hours ago
- Business
- The Herald
Hackers target Treasury, servers isolated as team assesses malware
The National Treasury says it identified malware on its infrastructure reporting and monitoring (IRM) website on Tuesday afternoon. The IRM servers were isolated for its staff to assess the magnitude of the compromise and to ensure the security of its systems. In light of Microsoft's recent warning of attacks on software globally, the Treasury said it has contacted the tech giant to check for and address potential vulnerabilities in its information and communication technology (ICT) environment. Despite this, the Treasury said its systems and websites continue to operate normally without any disruption. 'The National Treasury's ICT department processes more than 200,000 e-mails each day and facilitates more than 400,000 user connections through their websites daily,' it said. 'On average, the ICT team successfully detects and blocks about 5,800 security threats directed at Treasury systems every day, showcasing the department's commitment to maintaining a secure digital environment. These threats encompass a range of malicious activities, including phishing attempts, malware infections and spam attacks.' TimesLIVE
IOL News
4 hours ago
- Business
- IOL News
National Treasury confirms malware on infrastructure reporting platform
National Treasury has confirmed that it has "identified malware on its Infrastructure Reporting Model website National Treasury has confirmed that it has "identified malware on its Infrastructure Reporting Model website, the online infrastructure reporting and monitoring system". In a statement issued to the media late on Wednesday, the Treasury announced that it has isolated the IRM servers to assess the extent of the compromise and to ensure the security of its systems. "Considering recent media reports since Sunday regarding security incidents affecting Microsoft platforms in the USA, NT has requested Microsoft's assistance in identifying and addressing any potential vulnerabilities within its Information and Communication Technology ICT) environment,". the Treasury said.
Eyewitness News
11 hours ago
- Business
- Eyewitness News
Gigaba doesn't believe drawn-out budget process damaged Treasury's credibility
JOHANNESBURG - African National Congress (ANC) Member of Parliament (MP) and former Minister of Finance Malusi Gigaba said he doesn't believe 2025's drawn-out budget process has damaged National Treasury's credibility. Treasury's budget process was tested for the first time when parties in the Government of National Unity (GNU) disagreed on fiscal policy, forcing leaders to backtrack on proposals. ALSO READ: - Higher Education Dept's budget passed amidst fiery exchanges between political parties - Police ministry's budget approved but concerns linger over 'rot' in SAPS - National Assembly passes several dept budgets despite objections from most opposition parties After three attempts since the aborted budget speech in February, Budget 2025 was finally passed in the National Assembly on Wednesday night. Gigaba, who just recently obtained his PhD, spoke to EWN, reflecting on how Treasury fared during the recent headwinds. Generally thought to be a respected and credible institution, the frustrating budget process put the National Treasury in a tight spot somewhere between fiscal consolidation and political manoeuvring. 'It remains a strong institution for South Africa, but obviously, Treasury now relies on the rest of government and on political parties to be able to negotiate and find compromises to ensure budget processes go ahead within the regulated timelines,' said Gigaba. But he said there must be better mechanisms to avoid similar issues down the line. 'Otherwise, we will lose credibility in international bodies, and it will affect the credibility of our fiscal policy and processes. It will also affect the position of the country with regards to credit rating agencies, investor opinion, and just how the public views how government functions.' This is the first time the ANC has needed the buy-in of other parties to pass the budget after losing its parliamentary majority in the 2024 general elections.
TimesLIVE
a day ago
- Business
- TimesLIVE
Masondo raises state capacity urgency as parliament adopts Appropriation Bill
Deputy finance minister David Masondo says the Appropriation Bill before parliament has to be approved urgently or the national government cannot disburse funds from May's budget and this will increasingly hamper the government's ability to undertake authorised spending. He was addressing parliament on Wednesday, as the National Assembly adopted the main Appropriation Bill with 262 MPs in support and 90 against. He said the bill will allow the government to spend R1.2-trillion on basic services, social grants and infrastructure projects to improve the lives of all South Africans. 'We must not delay the passing of this bill or object to it. Because delays in passing this bill carry two consequences. The first is that without passing this bill, the government will be without authority or permission to spend beyond last year's allocation. As a result, the government will not fully provide services, including public servants. 'In the absence of the Appropriation Act, the government may only spend 45% of the previous year's budget until the end of July, which is next week. And thereafter, the government can only spend 10% per month of the previous appropriated budget. Our estimation is that, overall, by October, the government will be without authority when we reach 100% of last year's appropriation.' He said this had implications for newly presented spending items, including R6.7bn for compensation and essential services in health to hire 800 doctors, the R400m home affairs digitisation programme, addressing shortages in medical goods and R5.1bn for education compensation and early childhood development. 'The second implication of delays in passing this budget is that critical priorities, new priorities, cannot be funded. These priorities include the R4bn for infrastructure for passenger rail transport to modernise signalling technology systems that will improve service, frequency, safety and efficiency.' After the adoption of finance minister Enoch Godongwana's 2025 budget in May, the Appropriation Bill determines the allocations from the budget to the various departments in the national government. For the first time, it took the finance minister three attempts to table a budget. The National Assembly plenary, to consider the Appropriation Bill, also considered the budget votes of all national government departments under the GNU, lasting more than eight hours at the Cape Town International Convention Centre. On the same day, National Treasury released a statement saying South Africa's budget process has not kept pace with the country's fiscal and political realities. It issued the medium-term expenditure framework technical guidelines 2026 in terms of the Public Finance Management Act to prescribe the format for preparing an annual budget. 'A review of the budget process revealed critical limitations of the process, including fragmented decision-making, poor policy-budget alignment, and weak consensus on trade-offs in a context of competing priorities and limited fiscal space. 'The guidelines reaffirm government's commitment to a more disciplined, transparent, and strategically aligned budget process that supports South Africa's long-term fiscal objectives and national development priorities.' Earlier in the plenary on Wednesday, ANC chief whip Mdumiseni Ntuli moved that the house adopt the report on the bill. MK Party MP Tshikani Makhubele, EFF MP Nontando Nolutshungu and UAT MP Wonderboy Mahlatsi immediately objected to Ntuli's motion. Tabling the bill report for adoption, standing committee on appropriations chair and BOSA MP Mmusi Maimane said the budget took place in severely constrained economic conditions of low growth, limited fiscal resources, high unemployment and enduring inequality. 'I want to urge that going into the next cycle of budget, please let us ensure that we have established our priorities, we are clear where the economic reforms are, we budget accordingly and create plans that can ensure that the budget process is smoother and that the people of South Africa can experience the fullness of participating in the contribution of the Appropriation Bill.' He said 22 cents of every rand in the fiscus goes to debt-servicing costs, and the social wage continues to take up a significant amount of spending at 61%. He said South Africa must ensure that it creates room in the fiscus for investment in infrastructure, small business support and innovation. 'If we are not careful in how we prioritise budgeting ... in the outer year of this medium-term, we will be spending more on social grants than we do ... on any other economic area. It is also deeply concerning that ... 1% of the total appropriation is spent on innovation and areas that improve growth.' Maimane said while he welcomed the stimulus and added spending on doctors in the department of health's budget vote, the strain put on the medical legal claims pipeline was concerning. He urged that the government prioritise spending on education and responses to the termination of the US President's Emergency Plan for Aids Relief (Pepfar) funding. ANC MP Soviet Lekganyane said the government, ministers and MPs must 'run barefooted [sic]' on behalf of ordinary South Africans to realise the fulfilment of the country's potential. He listed additional allocations to Sars and the Border Management Agency as key positive decisions. MK Party MP Sanele Mwali said the budget and its appropriations were a missed opportunity to chart an alternative path for growth and prosperity for the South African people and ease the burden of rising living costs. 'We are in this situation because this government does not listen. We tried all we could to present alternatives to make people's lives better. But it's clear that you have a programme that seeks to oppress people, and that this government is controlled by people who were not elected in this house. That is why you oppress South Africans even though we present alternatives.'
