Official account of finance cluster committees of @ParliamentofRSA

Joined May 2022
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Finance-Cluster retweeted
The hosting of the 19th Conference of Speakers and Presiding Officers of the Commonwealth Africa Region (CSPOC Africa) coincides with the commemoration of the 50th anniversary of the historic 16 June 1976 Soweto Uprising. In honour of the courage and sacrifice of the youth of 1976, delegates will participate in wreath-laying ceremonies at the Hector Pieterson Memorial and the Tsietsi Mashinini Memorial. The visit serves as a moment of reflection on the enduring legacy of the struggle for freedom, democracy and human dignity, while reaffirming the vital role of young people in shaping Africa's future. #CSPOC2026 #ParliamentaryDiplomacy #YouthDay #SowetoUprising50 #ParliamentSA 🇿🇦
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TRADE COMMITTEE CALLS ON GOVERNMENT TO SAVE THE STEEL SECTOR Parliament, Thursday, 11 June 2026 – The Portfolio Committee on Trade, Industry and Competition has called for urgent government intervention as the steel industry is facing a crisis that threatens thousands of jobs. During a follow-up engagement with the DTIC and stakeholders from the steel and metal fabrication sector yesterday, on (i) an update on developments within the sector, (ii) progress made in addressing the concerns previously raised, and (iii) any further proposals or interventions that should be considered to support industrial growth, competitiveness, transformation, and employment within the steel value chain. Stakeholders raised concerns regarding the sector’s continued decline due to global competition, policy misalignment, weak demand, poor logistics, high production costs, including electricity, as well as the weak network industries and declining investment in this specific sector. Furthermore, this has been exacerbated by a shift in domestic demand to imported steel products, an increased demand for low carbon steel manufacturing processes while the local industry remains carbon-intensive, and excess global steel supply, among others. This has led to a decline in the industry accompanied by significant job shedding over many years. In addition, certain stakeholders raised concerns on the perceived distortionary impact of the Preferential Pricing System and export control on the scrap metal recycling industry and the livelihoods of waste pickers. Stakeholders proposed the following interventions, among others: Binding commitments for and enforcement of local public procurement to boost demand for domestic steel products, particularly through public infrastructure spend and supplier development programmes of State-owned Enterprises; Targeted interventions and support to assist sub-sectors such as the wire and the scrap metal industries; Resolution of electricity pricing negotiations and inefficiencies in rail and freight logistics; Financial support, such as development financing and tax incentives, for downstream industries; A rail reindustrialisation compact, led by the Presidency; and Stronger enforcement of policies and trade remedies to prevent circumvention thereof, illicit and underpriced imports. The committee welcomed the progress made by the DTIC and its entities in implementing trade remedies, assisting with the negotiations of electricity prices and support to resolving the crisis at ArcelorMittal South Africa. However, the committee was of the view that there is a need for effective and thorough engagement with the sector in developing a clear, coordinated, state-led strategy and intervention to stabilise and revive this industry. The committee called on the DTIC to work with its counterparts to resolve concerns such as the implementation and enforcement of localisation and local public procurement policies and tighten import enforcement to curb illicit steel product imports. The Chairperson of the committee, Mr Mzwandile Masina, said: "The steel sector must be saved. However, this requires holistic government support and industry investment to ensure that a modern and competitive sector can emerge. Therefore, the DTIC and its entities should prioritise the review of the Master Plan and affected interventions." ISSUED BY THE PARLIAMENTARY COMMUNICATION SERVICES ON BEHALF OF THE CHAIRPERSON OF THE PORTFOLIO COMMITTEE ON TRADE, INDUSTRY AND COMPETITION, MR MZWANDILE MASINA. For media enquiries, please contact the committee’s Media Officer: Name: Ms Faith Ndenze Parliamentary Communication Services Email: fndenze@parliament.gov.za
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The Select Committee on Appropriations is today conducting public hearings on the 2026 Appropriation Bill. @ParliamentofRSA The committee is receiving presentations from @budgetjusticesa @_cosatu @BreadlineAfrica
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The African Institute for Fiscal and Policy STUDIES (PA-IFS) says the 2026 Appropriation Bill was developed on a February 2026 macroeconomic baseline that has since been overtaken by weaker economic performance, including lower-than-expected GDP growth, rising unemployment and worsening poverty indicators.
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The Healthy Living Alliance (HEALA) @heala_SA advocates strengthening the Health Promotion Levy as a mechanism to reduce non-communicable diseases, generate additional revenue and alleviate long-term pressures on the health system.
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COMMITTEE CAUTIONS THAT AUSTERITY MEASURES MAY NEGATIVELY AFFECT IMPLEMENTATION OF INDUSTRIAL DEVELOPMENT STRATEGY   Parliament, Tuesday, 9 June 2026 – The Portfolio Committee on Trade, Industry and Competition has cautioned government that austerity measures may adversely affect the implementation of the newly adopted South Africa’s Industrial Development Strategy.   The committee commended the Department of Trade, Industry and Competition (DTIC) on championing the South Africa’s Industrial Development Strategy anchored by diversification, decarbonisation and digitalisation. The Strategy is expected to deepen industrialisation and reimagine manufacturing to ensure competitiveness. With the manufacturing sector experiencing a sharp decline over the last few decades, the Special Economic Zone (SEZ) Programme is one of the anchor programmes to attract new direct investment from domestic and foreign players in a commercially competitive space.   Today, the committee received briefings from the DTIC, National Treasury and the Western Cape Department of Economic Development and Tourism (WCDEDT) on the challenges affecting the development and sustainability of the Atlantis and Freeport Saldanha SEZs as well as solutions thereof. This is a follow-up to the committee’s oversight visit to the SEZs in October 2025.   The committee’s interest was on the additional tax incentives provided to SEZs, with a particular focus on the process of approval and implementation of SEZ tax incentives, access to these tax incentives by companies, possible provision of additional incentives to SEZs that currently do not have access to these incentives. The lack of access to certain incentives in some SEZs is perceived to have a negative impact on these SEZs’ ability to attract investment. Furthermore, the funding for operations and bulk infrastructure was one of the critical issues, in relation to the support of the provincial government to the SEZs.   The committee heard from National Treasury that generally tax incentives are applied with a set time period to enable it to review and amend these to ensure that the intended outcome is being achieved. In particular, there was a policy decision taken in 2020 to not extend the SEZ tax incentives to any new SEZs. However, the committee is calling on National Treasury to open space to engage all social partners on how to strengthen its tax regime in relation to the SEZ Programme to ensure that South Africa can compete with other countries’ SEZs.   The committee welcomed the WCDEDT’s commitment to providing the much-needed 2026/27 operations budget for both the Atlantis and Freeport Saldanha SEZs, as well as the DTIC’s resolution of the funding for bulk infrastructure for the Atlantis SEZ.   The Chairperson of the committee, Mr Mzwandile Masina, stressed that austerity measures tend to lead to contracting economies, deepening socio-economic inequality and rising unemployment; thus, it may lead to mass social protests. “Therefore, fiscal and monetary policy must support industrial policy to ensure long-term economic growth and development, economic transformation and job creation,” he said.   ISSUED BY THE PARLIAMENTARY COMMUNICATION SERVICES ON BEHALF OF THE CHAIRPERSON OF THE PORTFOLIO COMMITTEE ON TRADE, INDUSTRY AND COMPETITION, MR MZWANDILE MASINA.   For media enquiries, please contact the committee’s Media Officer: Name: Ms Faith Ndenze Parliamentary Communication Services Email: fndenze@parliament.gov.za
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Finance-Cluster retweeted
1/ #JoburgAccounts SCOPA member, Alan Beasly brings up the elephants at @JoburgParksZoo and asks @CityofJoburgZA to consider relocating them to a suitable sanctuary. #freetheelephants should be approached as an #animalwelfare issue rather than a political dispute, he says. Matter is currently before the courts. @SABCNews @eNCA @Newzroom405 @ewnupdates @POWER987News @SAfmRadio @dailymaverick @FinanceCluster @EconoCluster
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Finance-Cluster retweeted
1/ #JoburgAccounts #SCOPA Member Alan Beasly raising concern about the @CityofJoburgZA’s low achievement against #infrastructure development targets. Notes that performance was below 50% and had direct consequences for service delivery and residents’ daily experiences. @FinanceCluster @EconoCluster @SABCNews @SongezoZibi @SAfmRadio @POWER987News @ewnupdates
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Finance-Cluster retweeted
1/ HAPPENING NOW: @ParliamentofRSA's Standing Committee on Public Accounts (#SCOPA) and Portfolio Committee on #COGTA receiving a briefing from @CityofJoburgZA's leadership on plans underway to address financial management challenges stemming from its audit outcomes for the 2024/25 financial year. @FinanceCluster @SongezoZibi @SABCNews @eNCA @Newzroom405 @SAfmRadio
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Finance-Cluster retweeted
2/ Brink says: The @CityofJoburgZA acknowledges the audit and control matters raised. The response is constructive, incl. strengthening internal controls, resolving findings, and holding responsible persons accountable where evidence supports it. @News24 @IOL @Netwerk24 @TheCitizen_News @insidemetrosza
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Finance-Cluster retweeted
1/ The @CityofJoburgZA's municipal manager, Mr Floyd Brink tells @ParliamentofRSA's #SCOPA and PC on #COGTA that he metro has elevated financial sustainability as an institutional priority. Infrastructure underspend is being managed through project-level acceleration, grant recovery, procurement follow-up and mega-project monitoring. @SABCNews @SAfmRadio @eNCA @Newzroom405 @SongezoZibi @ewnupdates @POWER987News
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Finance-Cluster retweeted
The @CityofJoburgZA tells @ParliamentofRSA's #SCOPA and PC on #COGTA that water challenges are being addressed through infrastructure, finance and intergovernmental coordination. @FinanceCluster @SABCNews @News24
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Finance-Cluster retweeted
The CFO of @CityofJoburgZA, Mr Tebogo Moraka, tells @ParliamentofRSA's #SCOPA and #COGTA committees that by the end of May, the metro had R7.5 billion outstanding debt to creditors. The priority is to settle creditors of @jhb_water, @CityPowerJhb and @CleanerJoburg. #JoburgAccount #ParliamentOversight @SABCNews @SAfmRadio @SongezoZibi @POWER987News @FinanceCluster @EconoCluster
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Finance-Cluster retweeted
IN PICTURES: The @CityofJoburgZA’s leadership is appearing before @ParliamentofRSA’s #SCOPA and #COGTA committees to account for audit outcomes that reflect serious financial management and governance issues in the metro. @SongezoZibi @SABCNews @SAfmRadio @FinanceCluster @EconoCluster
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Finance-Cluster retweeted
The @ParliamentofRSA’s Standing Committee on Public Accounts (#SCOPA) and the PC on #COGTA is receiving a briefing from the @CityofJoburgZA leadership on the municipality’s audit outcomes for the 2024/25 financial year, as well as the steps being taken to address and correct the audit findings. @SABCNews @SongezoZibi @SAfmRadio @News24 @FinanceCluster @EconoCluster
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MEDIA ALERT: @ParliamentofRSA's Standing Committee on Public Accounts (#SCOPA) and the Portfolio Committee on #COGTA will, on Wednesday, receive a briefing from the @CityofJoburgZA on its audit outcomes for the 2024/25 financial year, as well as the steps being taken to address and correct the #audit findings. @GovernanceClus1 @SABCNews @insidemetrosza @TheCitizen_News @Newzroom405 @ewnupdates @SAfmRadio @POWER987News READ👇🏾👇🏾👇🏾
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