Latest news with #StandardChartofAccounts
The Citizen
3 days ago
- Business
- The Citizen
Contractor paid: Work to resume soon on Mzimkhulu River bridge in Port Shepstone
Contractor paid: Work to resume soon on Mzimkhulu River bridge in Port Shepstone The MEC for Transport and Human Settlements, Siboniso Duma, said today (Friday) that the contractor responsible for the rehabilitation of the Mzimkhulu River bridge has been paid. This is after a meeting with Provincial Treasury. 'We have received more than R800m from our budget. As pointed out a few weeks ago, as the Department of Transport, we experienced difficulties beyond our control,' added Duma. 'The National and Provincial Treasury's Basic Accounting System which is used to process payments was disrupted by the transition from the Standard Chart of Accounts (SCOA) 5 to 6. In addition, our payment system was also disrupted by the rechanneling of money to the Department of Education for the payment of teachers as governed by the National Norms and Standards for School Funding.' He added that the contractor is on site and will be moving machinery in to continue with this important assignment. 'We have agreed that the contractor must aim to finish the rehabilitation of the bridge by December 2. In our engagement with Provincial Treasury, it was agreed that our invoices from contractors will be prioritised, ' said Duma. He added that many other contractors have been paid and he apologised for the inconvenience caused to residents and the business community across all sectors. HAVE YOUR SAY Like the South Coast Herald's Facebook page, follow us on Twitter and Instagram
TimesLIVE
15-05-2025
- Business
- TimesLIVE
KZN transport MEC raises alarm over R1.5bn payment delays to service providers
KwaZulu-Natal's MEC for transport and human settlements Siboniso Duma has voiced concerns over payment delays amounting to more than R1.5bn, affecting more than 2,000 construction companies and service providers across the province. In a media statement, Duma said the delays were the result of technical glitches stemming from the implementation of a new version of the Standard Chart of Accounts (SCOA V6), introduced by the National Treasury on April 1. The system replaces SCOA V5, which had been in use since 2017. 'In particular, we are extremely worried about the delays in the payment of service providers who are rendering services to the department across all corners of the province. To date, there are pending payments for more than 2,000 service providers in our system, totalling more than R1.5bn,' said Duma. According to Duma, payments have been delayed since January, affecting road and bridge construction firms, public transport service providers and numerous small businesses that rely on government contracts for their livelihoods. 'About R600m is waiting to be cleared this week, and the balance of R700m is to be cleared over the next two weeks,' he said. The delays are not only affecting cash flow for businesses but are also threatening to stall vital infrastructure projects.
