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Cape Town - A roundup of Tuesday's top economic and finance reads on Fin24.
Gordhan, Jonas said to be part of Ramaphosa's new Cabinet plan
Former ministers banished to the political wilderness under Jacob Zuma’s presidency are set to make a comeback as President Cyril Ramaphosa prepares to revive the stagnant economy.
The ANC’s top-six officials, including President Cyril Ramaphosa, will meet on Friday to discuss changes to the cabinet, according to three people who asked not to be identified because they aren’t authorised to speak publicly on the matter.
Finance Minister Malusi Gigaba, who Zuma appointed on March 31 when he had no experience in economics, tax, or banking, is among those who will be affected in the shake-up that’s expected to be announced next week, they said. Gigaba will deliver his first full budget to Parliament on Wednesday.
Brown orders Transnet to report alleged wrongdoing, despite 'inconclusive' report
Minister of Public Enterprises Lynne Brown has instructed Transnet to report alleged irregularities identified in an investigative report to law enforcement authorities, even though the state-owned enterprise labelled it incomplete and inconclusive.
The report by Werksmans investigated alleged wrongdoing in the R54bn procurement process of 1 064 locomotives from four original equipment suppliers in 2014, including General Electric, Bombardier Transport, China South Rail and China North Rail.
Brown said power utility Eskom has been down "this road of commissioning investigations, only to claim they are indecisive or incomplete".
Grabouw on high alert after Oriental Fruit Fly discovery
The department of agriculture has called on South Africans to not remove or tamper with fruit fly trapping buckets, after Oriental Fruit Flies were discovered near the town of Grabouw in a fruit-growing area of the Western Cape.
“Their [the buckets'] presence is essential to the national exotic fruit fly surveillance programme,” the department said in a media release.
The flies, which are native to Asia, are regarded as pests. They damage fruit by laying their eggs in them.
The department said on Monday that the first Oriental Fruit Fly specimen, a male, was detected near Grabouw on January 31 when it was caught in a trap.
'Open money' portal to make #Budget2018 accessible to South Africans
Treasury has launched an online portal to make information about the budget accessible to South Africans, so that they can see how public finances are managed.
The portal Vulekamali, which roughly translated means “open money”, is part of a journey which started in 1997, said Treasury’s Director General Dondo Mogajane.
He was speaking at the launch of the portal at Parliament on Tuesday, alongside Finance Minister Malusi Gigaba, Deputy Finance Minister Sfiso Buthelezi and Jay Kruuse, director of Public Service Accountability Monitor (PSAM).
Nobody else but Malusi Gigaba will present budget - Sfiso Buthelezi
Only the President will be able to say if Finance Minister Malusi Gigaba will keep his job, said Deputy Finance Minister Sfiso Buthelezi.
He was responding to questions from journalists about whether Gigaba will deliver the Budget Speech on Wednesday February 21.
Gigaba had handed over the microphone to Buthelezi to answer questions following a briefing for the launch of the portal Vulekamali, which aims to make the budget more accessible to South Africans.
“That is why we are here. There is a budget that is going to be presented tomorrow (Wednesday) and it is going to be presented by nobody else but Malusi Gigaba,” said Buthelezi.
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