There’s more than enough evidence and research… You don’t need another week, month or year of legotlas… We just don’t have time!— Dr Iraj Abedian, CEO - Pan-African Investments and Research Services
The economy is toast. Tax revenue is down, despite higher tax rates. The ANC’s choices are becoming starker, Finance Minister Tito Mboweni warned the ruling party’s National Executive Committee (NEC) on Monday.
Slow progress to date on structural reforms means growth will remain low…— Tito Mboweni, Minister of Finance
Mboweni described how South Africa’s state-owned enterprises are bleeding its citizens dry.
The most glaring example is Eskom; its debt is the size of the entire mining and agricultural sectors combined.
If no corrections occur, in a slow-growth environment, we face even greater adjustments in three years’ time.— Tito Mboweni, Minister of Finance
He reiterated aspects of his economic recovery plan vehemently attacked by Cosatu.
…stop subsidising inefficient SOCs [state-owned companies] to deliver services more effectively done by someone else and sell SOCs that have no clear public service mandate…— Tito Mboweni, Minister of Finance
Treasury wants to allow households and companies to generate electricity with rooftop solar PV and sell excess electricity to the grid.
It also proposes the sale of Eskom’s coal-fired power stations with a predetermined agreement to buy back electricity.
Listen to the interview in the audio below (and scroll down for more quotes from it).
It would be better if he [President Ramaphosa] stops talking about it [the economy] and does something about it. We all know what needs to be done. What we don’t need is more talk…— Dr Iraj Abedian, CEO - Pan-African Investments and Research Services
I’m deeply worried that we pretend that we don’t know what’s wrong and that we pretend as if we don’t know what needs to be done…— Dr Iraj Abedian, CEO - Pan-African Investments and Research Services
All those who disagree [with Treasury’s growth plan] have no alternative solutions. They’re only criticising…— Dr Iraj Abedian, CEO - Pan-African Investments and Research Services
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends:
Recommendedby NEWSROOM AI
Branches remain critical and the launch Capitec Business Banking is imminent, says CEO Gerrie Fourie.
Your advisor’s "free" advice may cost you dearly. Pay by the hour, warns personal finance expert Warren Ingram.
They broke the law and spent money stolen from poor South Africans, investigations by Scorpio journalist Pauli van Wyk shows.
How to earn a yield of 9% - on average - but up to 13% in your TFSA, according to personal financial advisor Warren Ingram.
Dino Zuccollo of Westbrooke Alternative Asset Management answers 12 FAQs about the Section 12J tax incentive.
The Money Show’s Bruce Whitfield interviews Ernest du Toit, Chairperson of the Direct Selling Association of South Africa.
Mapule Ndhlovu opens up about her life journey and how exercise changed not only her body, but her mindset for the better.
Anton Harber and Thandeka Gqubule won their defamation case over Mbuyiseni Ndlozi's party statement implying links to Stratcom.
WEF youth climate delegate Vanessa Nakate was cropped out of a group pic with her white peers, also featuring Greta Thunberg.
Nikki Bush has valuable tips on preparing not only your school-leaver but yourself for the journey into adulthood ahead.
Right to Sight trustee Dr Matt Young says they get donations at the most time but now need big sponsors.
The Cato Manor 9 were hanged in 1961 by the apartheid after taking part in an uprising on 24 January 1960.
The musician says he never writes songs about his personal life but this latest single is too personal for him.
Unisa acting director of communications Lusani Netshitomboni says they encourage students to register online.
Mzwandile Stick has been reappointed as an assistant coach while in an innovative inclusion, Felix Jones will continue but in a new role as a European-based coaching consultant.
Department of Minerals and Energy chief inspector of mine David Msiza says more needs to be done.