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2024

Новости за 21.02.2024



R4bn may be removed from Eskom debt-relief for failure to meet EFC sale deadline

Engineeringnews.co.za 

The South African government is proposing to reduce its planned allocations to Eskom under a previously announced R254-billion debt-relief package by R2-billion a year for the 2023/24 and 2024/25 periods, owing to the utility’s failure to dispose of the Eskom Finance Company (EFC) by the agreed timeframe of March 31, 2024. Allocations of R78-billion in 2023/24 and R66 billion were announced previously.

Godongwana draws down R150bn from gold and forex account to reduce borrowings and debt-service costs

Engineeringnews.co.za 

Finance Minister Enoch Godongwana unveiled a far-reaching reform in relation to government’s treatment of the Gold and Foreign Exchange Contingency Reserve Account (GFECRA), which will result in R150-billion in drawdowns from the account over the coming three years to reduce government borrowings. The settlements will be in three tranches, including R100-billion in 2024/25 and R25-billion apiece in the subsequent two financial years, and the proceeds will help reduce government’s gross borrowing... Читать дальше...

70 out of 72 municipalities approved for Eskom debt relief

Engineeringnews.co.za 

Out of 72 municipality applications for State-owned Eskom debt relief, 70 have been approved, Finance Minister Enoch Godongwana revealed in his 2024 Budget on February 21. The 72 applicants represent R56.7-billion, or 96.9%, of the total municipal debt owed to Eskom as at March 31, 2023, with the 70 approved representing R55.2-billion.

RFP for private transmission investment to be launched in July

Engineeringnews.co.za 

The South African government will release a request for proposals (RFP) in the coming months seeking private sector investment into a pilot electricity grid infrastructure project. The National Treasury confirms that government has been working in partnership with the International Finance Corporation on the short-term options for “off-balance-sheet financing to accelerate private-sector investment in transmission, without negatively affecting Eskom’s balance sheet and the fiscus”.

No change to fuel levies this year, Godongwana says

Engineeringnews.co.za 

Government has decided once again to leave the general fuel levy and Road Accident Levy Fund unchanged, resulting in tax relief of about R4-billion. This was announced at the release of Finance Minister Enoch Godongwana’s 2024 Budget on February 21, marking the third consecutive year that this decision has been made, largely as a means of curbing inflation caused by sharply rising fuel prices, which have remained high, with diesel retail prices reaching R27/l in October 2023.

Global corporate tax minimum to be implemented this year

Engineeringnews.co.za 

In an effort boost tax revenue going forward, government will be implementing the long-awaited global corporate tax minimum in the coming year, Finance Minister Enoch Godongwana revealed upon the release of the 2024 Budget on February 21. He said that the global minimum tax aims to limit the “race to the bottom” of effective corporate tax rates for large multinationals, whereby countries compete to attract income by offering low tax rates and tax incentives.





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