Latest news with #Rossouw
IOL News
20-05-2025
- Business
- IOL News
‘We cannot have a third budget failure' — Economist warns as Godongwana faces GNU showdown
Pressure is mounting on Finance Minister Enoch Godongwana as he is expected to table the National Budget Review for the third attempt in Parliament on Wednesday after tensions within the Government of National Unity coalition over an increase in value-added tax (VAT) rates led to the budget being amended and re-tabled three times. Image: File Finance Minister Enoch Godongwana is under pressure to ensure his 2025 budget wins the support of Government of National Unity (GNU) partners, with an economist warning that the country cannot have a situation where a third budget is not passed. Godongwana is scheduled to table his budget speech on Wednesday. This comes after the rejection of two previous budget proposals and the recent decision to scrap a planned increase in Value-Added Tax (VAT), placing even more strain on the National Treasury to find alternative ways to address South Africa's growing fiscal crisis. Speaking to IOL News, Professor Jannie Rossouw of the Wits Business School emphasised the importance of passing the upcoming budget. 'The big thing is, we can only hope that this budget will go through Parliament,' Rossouw said. 'It's problematic that the previous two budgets were not approved by Parliament. The credibility of both the Finance Minister and the National Treasury has been damaged.' Rossouw said that Godongwana must ensure the budget has the backing of the GNU partners before it is tabled in Parliament. 'I can only hope that he negotiated the budget with the GNU partners and that they agreed to it before it's presented,' Rossouw said. 'We cannot have a situation where a third budget does not pass. That does not instill confidence in the government's ability to run the economy.' 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 ✕ The first budget, originally set for February, was postponed amid disagreements within the GNU over the proposed VAT hike. A revised version, introduced in March, suggested staggered increases of 0.5 percentage points but was met with strong opposition from coalition partners, especially the Democratic Alliance (DA), including parties outside the GNU. The Western Cape High Court later blocked the proposal. The Economic Freedom Fighters (EFF) also challenged the VAT hike in court. With limited options, Godongwana faces the difficult task of bridging the funding gap while satisfying all members of the GNU. Rossouw said the budget is likely to include deep spending cuts. 'In my view, it will be necessary to cut some expenditure, because the government cannot currently raise taxes,' he said. 'And I can think of several instances where expenditure can be cut without harming service delivery to the average South African.' Among Rossouw's suggestions, is eliminating all 43 deputy ministers, which is a demand echoed by several political parties in light of the bloated GNU. 'I don't know what deputy ministers do or why we need 43 of them. Simply get rid of them,' he said. He also called for the closure of underperforming departments. 'Simply close certain government departments that achieve very little, like the Department of Small Business Development. It has not developed even one small business in the eastern part of South Africa.' Rossouw also criticised what he called wasteful expenditure, including the presidential motorcade. 'Why do we need 11 vehicles and several motorbikes in the presidential motorcade?… It's unnecessary.' He further pointed out the financial drain of state-owned enterprises, especially the South African Airways (SAA). 'I said a decade ago that the government must give SAA away. It will not fly…The government has this strange ideological idea that it needs to be aligned with these enterprises, but we're now paying the price.' However, Rossouw said he believes the budget can only pass if it has the necessary political buy-in. 'One thing I want to see in this budget is a clear plan to stimulate economic growth,' he said. 'We need faster economic growth to get the country's unemployment crisis under control.' 'We really need to start thinking outside the box. We urgently need to get the economy going,' he added. IOL Politics
Express Tribune
08-05-2025
- Sport
- Express Tribune
HBL PSL 10: Rossouw, Nawaz make men's T20 history as Quetta rout Islamabad
Rilee Rossouw and Hasan Nawaz made T20 history on Tuesday as they became the first pair to score centuries in the same innings of a HBL Pakistan Super League (PSL) match—and just the 10th duo ever to achieve the feat in all of men's T20 cricket. Their explosive knocks helped Quetta Gladiators demolish Islamabad United by 109 runs, while also setting a new HBL PSL record total of 263-3. Rossouw was the first to hit three figures, slamming 104 off 46 balls with 14 fours and six sixes. After Saud Shakeel fell for 23, Rossouw combined with the 22-year-old Nawaz to build a blistering 134-run stand off just 61 deliveries. The South African was dismissed in the 16th over, but Nawaz kept going. He brought up his century with a boundary off the final ball of the innings—ending unbeaten on 100 from 45 balls, with 9 sixes and 7 fours. Their twin hundreds placed them in rare company, joining a list of only nine other duos to have pulled off this feat in men's T20 history. 🔟 Other Instances of Twin Centuries in Men's T20 Cricket: Kevin O'Brien (119) & Hamish Marshall (102) – Gloucestershire vs Middlesex, June 26, 2011 Virat Kohli (109) & AB de Villiers (129*) – RCB vs Gujarat Lions, May 14, 2016 (IPL) Alex Hales (100) & Rilee Rossouw (100*) – Rangpur Riders vs Chittagong Vikings, Jan 25, 2019 (BPL) Jonny Bairstow (114) & David Warner (100*) – Sunrisers Hyderabad vs RCB, Mar 31, 2019 (IPL) Sabawoon Davizi (115*) & Dylan Steyn (106) – Czech Republic vs Bulgaria, May 12, 2022 Lachlan Yamamoto-Lake (134*) & Kendel Kadowaki-Fleming (109*) – Japan vs China, Feb 15, 2024 Sai Sudharsan (103) & Shubman Gill (104) – Gujarat Titans vs CSK, May 10, 2024 (IPL) Sanju Samson (109*) & Tilak Varma (120*) – India vs South Africa, Nov 15, 2024 Tanzid Hasan (108) & Litton Das (125*) – Dhaka Capitals vs Durbar Rajshahi, Jan 12, 2025 Quetta's 263-3 is now the highest team total in PSL history, surpassing the 262-3 posted by Multan Sultans in 2023. It also cements Quetta's place in the top two for the playoffs, giving them a second chance route to the final. Islamabad, meanwhile, must now beat Karachi Kings on May 10 to confirm their playoff spot. Rossouw and Nawaz didn't just win a match—they entered a hall of T20 legends.
Yahoo
07-05-2025
- Sport
- Yahoo
Two hundreds in same innings as Quetta hit record in win
Two hundreds in same innings as Quetta hit record in win Pakistan Super League, Rawalpindi Quetta Gladiators 263-3 (20 overs): Rossouw 104 (46), Nawaz 100* (45) Islamabad United 154 (19.3 overs): Imad 56 (41); Amir 3-6 Quetta Gladiators won by 109 runs Scorecard Rilee Rossouw and Hasan Nawaz both hit centuries as Quetta Gladiators thrashed Islamabad United by 109 runs in the Pakistan Super League. South African Rossouw scored 104 from 46 balls before Nawaz hit the final ball of the innings for four to reach his hundred in 45 deliveries and power Quetta to 263-3 - the highest score in a PSL match. It was the first time two batters had scored a century in the same innings in the tournament and only the 10th the feat had been achieved in all men's T20s. Islamabad collapsed to 68-8 in reply and they were bowled out for 154 as Mohammad Amir finished with 3-6 from two overs. Left-hander Rossouw came in with Quetta at 24-1 in the third over and hit 14 fours and six sixes, reaching his century in 44 deliveries. After Saud Shakeel was out for 23, Rossouw and 22-year-old right-hander Nawaz put on 134 in 61 balls. Rossouw was caught at long-on in the 16th over, but Nawaz continued his assault by dominating a partnership of 69 in 26 balls with New Zealander Mark Chapman, hitting nine sixes in his superb knock. Nawaz scored 105 not out for Pakistan in March against New Zealand in his first series, but made three ducks and one in his other four innings. Quetta had already secured a place in the PSL play-offs but are now guaranteed to finish in the top two, thus avoiding the eliminator. Islamabad need to beat Karachi Kings in their final match on Saturday 10 May to guarantee a play-off place. Highest PSL totals 263-3: Quetta Gladiators v Islamabad United, Rawalpindi, 7 May 2025 262-3: Multan Sultans v Quetta Gladiators, Rawalpindi, 11 March 2023 253-8: Quetta Gladiators v Multan Sultans, Rawalpindi, 11 March 2023 247-2: Islamabad United v Peshawar Zalmi, Abu Dhabi, 17 June 2021 245-3: Multan Sultans v Quetta Gladiators, Lahore, 18 February 2022 Other instances of two centurions in same men's T20
IOL News
29-04-2025
- Business
- IOL News
SA farmers have mixed reactions about implications of VAT increase reversal
The agriculture sector has given mixed reactions following the announcement by Finance Minister Enoch Godongwana that the proposed Value Added Tax increase of 0,5 % was reversed on Thursday. The agricultural industry in South Africa has given mixed reactions to the reversal of the proposed 0.5 percentage points increas in the Value-Added Tax (VAT) by Finance Minister Enoch Godongwana that the proposed on Thursday. Francois Rossouw, CEO of Southern African Agri Initiative (Saai), on Friday said that the reversal of the proposed VAT increase was positive news for the agricultural sector and the consumers. 'A VAT increase would have put additional financial pressure on farmers, particularly smaller-scale and emerging producers who are often not VAT-registered and therefore unable to reclaim increased input costs. It would also have negatively impacted consumer affordability of essential agricultural products,' he said. Rossouw added that while the VAT remaining at 15% would alleviate immediate cost pressures, the sector was still faing significant challenges, including rising input costs, infrastructure limitations, and logistical inefficiencies. 'We therefore urge the government to focus on improving infrastructure and logistics, and ensuring stable, supportive trade policies to foster sustainable growth and stability within agriculture,' Rossouw said. Dawie Maree, head of information and marketing at FNB Business and Agriculture, said that a change in VAT will not have ahd a significant impact on commercial agriculture since commercial farmers were VAT registered, so there was a pass-through. 'Small-scale farmers who are not registered would have been negatively affected since they would have had to absorb the VAT increase. Indirectly it is good news for agriculture if there were a VAT hike, consumers who are still struggling would have less disposable income to spend,' he said. Jaco Minnaar, president of Agri SA, said that they welcome the increase being scrapped because it will just be an additional burden to consumers. 'All VAT-rated product prices would have increased if the bill was passed, like white bread, other services and products prices would have increased by an extra 0.5%,' he said. Minnaar added that the pity was the timing of scrapping the increase seven days before implementation, where a lot of businesses already had huge expenses to prepare for the increase. 'Now all the time, effort, and costs have gone to waste,' Minaar said. TLU SA general manager, Bennie van Zyl, said the cancellation of the planned VAT increase was a victory for healthy opposition and cooperation. 'However, it does not solve the deeper crisis. The problem is not VAT but decades of policy direction that have suffocated the private sector. We need structural reform and expertise and more support for the agriculture sector,' Van Zyl said. Francois Baird, founder of the FairPlay movement, said that poor people will be the hardest hit by the government's decision to scrap the proposed additions to the list of VAT zero-rated foods. 'The decision is a consequence of the welcome reversal of the proposed increase in VAT from 15% to 15.5%. But forcing poor people to pay more for food is a shocking way for the government to try to make up for the revenue it will lose by not increasing VAT,' he said. Baird added that since the last VAT increase in 2018, FairPlay has campaigned vigorously for 'VAT-free chicken', the removal of VAT from the chicken portions most consumed by low-income households. Baird said that this year, FairPlay supported the application by poultry producers and chicken importers for the removal of VAT from frozen chicken portions and fresh and frozen offal products such as chicken heads, feet, and livers. 'This was a pro-poor proposal aimed at helping poor people feed themselves and their families. The need is urgent.' Aliya Chikte, project officer at the Alternative Information and Development Centre (AIDC), said that the reversal of the VAT hike was welcome, particularly in the context of horrific impoverishment and hunger. 'However, there is growing concern that this move may be offset by deeper spending cuts, potentially harming grant recipients and the majority who rely on essential public services,' Chikte said. 'The Minister stated that the decision to not increase VAT means that the measures to cushion lower-income households against the potential negative impact of the rate increase now need to be withdrawn and other expenditure decisions revisited.' Chikte added that this means that offal and tinned vegetables will not be included in VAT zero-rated goods. 'Pro-poor expenditure such as above-inflation increases to social grants and expenditure on health and education should be protected.' BUSINESS REPORT
CBC
26-03-2025
- CBC
Overdose likely cause of Brandon man's death, pathologist testifies at trial for alleged drug dealer
High amounts of MDA in a Brandon man's blood likely resulted in his overdose death, a forensic toxicologist testified Wednesday at a trial for the woman accused of selling the drugs he took before he died in July 2020. Prosecutors allege Hailey Lepine, 35, sold the drugs that led to the death of Michael Crede, 30. Lepine is charged with manslaughter, criminal negligence and unlawfully trafficking a controlled substance, with prosecutors alleging she provided the drug knowing it to be a dangerous substance. She has pleaded not guilty and is now on trial in a Brandon, Man., court. The second day of the judge-only Court of King's bench trial began with testimony from now-retired pathologist Dr. Janetta Rossouw, who wrote Crede's autopsy report. In the report, Rossouw described his death as an overdose, saying there was no other evidence of injury. Rossouw told the court a toxicology report showed there was more MDA than there should be in the blood, indicating to her it was the cause of death. "The only abnormality noted was the toxicology report," Rossouw said. "In the absence of anything else, the logic would dictate that that would be the cause of death." On Tuesday, the trial heard from Crede's girlfriend, who testified that hours after she and Crede split a gram of MDMA, or ecstasy, on July 25, 2020, he began to shake and foam at the mouth before he ultimately became unresponsive. She testified that Lepine sold her the drugs. Rossouw told the court Wednesday that blood, urine and eye fluid were submitted to a toxicologist to test for drugs or alcohol in Crede's system. A report by toxicologist Dr. Curtis Oleschuk, who also testified Wednesday, found Crede had a significant concentration of MDA in his system that would have been lethal. MDMA and MDA are related substances within the amphetamine family. They can be taken separately, and the body breaks down MDMA into MDA. Justice Elliot Leven asked Oleschuk how MDA can be lethal. In high doses, users may have convulsions, seizures or a heart attack, Oleschuk said. "All of those are potentially lethal." He noted there was no alcohol detected, but samples tested positive for benzoylecgonine — a byproduct of metabolized cocaine. Oleschuk did not test the substance used by Crede. Defence lawyer Andrew Synyshyn questioned whether there was a possibility Crede could have died from another health issue, like a naturally occurring heart attack, but Rossouw told the court there was no evidence to support that conclusion. Lepine is expected to testify Thursday before closing arguments.
