Gautrain expansion; Transnet debt ring-fenced; Koeberg lifetime extended, All eyes on Tito and Cricket Board bowled out
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In today's business headlines:
* The Department of Public Enterprises could ring-fence billions of rand of irregular expenditure by Transnet to ensure clean audit findings for the state-owned ports and rail operator. Transnet has reported R10 billion of irregular expenditure in the last fiscal year.
* Power utility Eskom has started a billion-dollar round of investments in the Koeberg nuclear power plant near Cape Town before getting permission from safety regulators that the reactor’s lifetime can be extended. It wants to extend Koeberg’s life span for another two decades.
* All eyes are on Finance Minister Tito Mboweni this week who will present his Medium-Term Budget Policy Statement on Wednesday. Lobby group Business Leadership South Africa has listed key reforms it views as necessary to fast-track growth which includes trimming the public-sector wage bill, efficient revenue collection, the weaning SOEs off subsidies and bailouts and increased use of private-sector expertise.
* At least five members of the Cricket South Africa (CSA) board have stood down from their positions after the council of CSA requested their resignations last week. The list includes acting president Beresford Williams. Learn more about your ad choices. Visit megaphone.fm/adchoices
* The Department of Public Enterprises could ring-fence billions of rand of irregular expenditure by Transnet to ensure clean audit findings for the state-owned ports and rail operator. Transnet has reported R10 billion of irregular expenditure in the last fiscal year.
* Power utility Eskom has started a billion-dollar round of investments in the Koeberg nuclear power plant near Cape Town before getting permission from safety regulators that the reactor’s lifetime can be extended. It wants to extend Koeberg’s life span for another two decades.
* All eyes are on Finance Minister Tito Mboweni this week who will present his Medium-Term Budget Policy Statement on Wednesday. Lobby group Business Leadership South Africa has listed key reforms it views as necessary to fast-track growth which includes trimming the public-sector wage bill, efficient revenue collection, the weaning SOEs off subsidies and bailouts and increased use of private-sector expertise.
* At least five members of the Cricket South Africa (CSA) board have stood down from their positions after the council of CSA requested their resignations last week. The list includes acting president Beresford Williams. Learn more about your ad choices. Visit megaphone.fm/adchoices
