Tito Mboweni Archives - Voice of the Cape

‘Basic income grants will not fix SA’s economy’, says Tito Mboweni

LOCAL Former finance minister and former governor of the SA Reserve Bank Tito Mboweni says fixing the country’s economy requires rebuilding infrastructure, not basic income grants. Mboweni, who was speaking at the PSG Konsult annual conference, shared insight into what he thinks SA needs to do to fix the social-economic crisis. He said economic growth will remain stagnant if government does not focus more on investment instead of social grants. […]

9 May 2022

Local

EFF wants Ranjeni Munusamy cut from Mboweni team

The Economic Freedom Fighters (EFF) want Finance Minister Tito Mboweni to sever all contractual ties with journalist Ranjeni Munusamy until she deals with the allegations against her. The EFF has given Mboweni a week in which to reverse the appointment of Munusamy to a position at National Treasury. On Wednesday night, Mboweni tweeted a picture of the drafting team collaborating on his Medium Term Budget Policy Statement, which included Munusamy. […]

22 October 2020

Local

Mboweni puts to rest rumours he may resign

Finance Minister Tito Mboweni has responded to suggestions he may resign with a tweet saying he was staying put in his post and working to fix South Africa's flagging economy. "There is a malicious rumour that I have resigned. It is untrue," Mboweni posted on his Twitter account late on Sunday. "I am firmly here as Minister of Finance. We have work to do. So much to do: fix our […]

31 August 2020

Local

Mboweni tells Steenhuisen to ‘stay in his lane’ after lockdown comments

Minister of Finance Tito Mboweni has slammed Democratic Alliance (DA) interim leader John Steenhuisen‘s call for the coronavirus lockdown to be phased out. Steenhuisen says the lockdown is doing severe damage to the economy. Mboweni has, in a tweet, advised Steenhuisen to “stay in his lane”. Mboweni says Steenhuisen’s call is unwarranted and disrespectful. Steenhuisen earlier said the lockdown was doing more harm than the coronavirus itself in South Africa. He […]

9 May 2020

Local

‘Unprecedented’ national effort underway to combat Covid-19 as infections rise and economy dies

A national rescue effort to save thousands of lives threatened by the spread of Covid-19, while attempting to preserve and reconfigure the economy is unfolding on a scale unprecedented in democratic South Africa. The depth of the crisis the country finds itself in was underscored by a series of dire developments on Tuesday, with the coronavirus infection rate seeing its largest single increase in recent weeks, with 143 more South […]

15 April 2020

Local

Fedusa threatens strike over civil servant increases

Labour federation Federation of Unions of South Africa (Fedusa) has threatened to strike over government’s decision to backtrack on a three year agreement that would have given civil servants a seven percent wage increase from the beginning of next month. In his budget speech, Finance Minister Tito Mboweni announced that the public sector wage bill will be cut by R160 billion over the next three years. Labour federations Congress of South African Trade Unions […]

3 March 2020

Local

SA bankers criticize proposal for commercial state bank

Representatives of SA's banking and financial services industry say they are finding it difficult to understand government's rationale behind establishing a commercial state bank. Delivering the Budget in Cape Town on Wednesday, Finance Minister Tito Mboweni said government would proceed to establish a new state bank whose "architecture will be that of a retail bank operating on commercial principles". "The state bank will be subject to the Banks Act, and […]

27 February 2020

Local

Breakdown of Budget 2020

A proposal to cut the state's wage bill by R160.2 billion over three years as Treasury warns of ever-rising debt repayment costs, was one of the key announcements in the 2020 Budget. "For the credibility of our fiscal stance, that R160 billion or so needs to be found," Mboweni told journalists at a pre-Budget briefing. The proposal will anger unions which have warned against wage cuts. Mboweni presented the Budget […]

26 February 2020

Tito Mboweni

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