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D-Day for Godongwana's Herculean budget reset

Cape Times

|

May 21, 2025

Resetting the trajectory of the South African economy

- MUSHTAK PARKER

D-Day for Godongwana's Herculean budget reset

NOT EVEN a wedding planner would dare organise a nuptial on the same day a far-flung foreign “suitor with benefits” threatens his conditional “love”, or else.

Never mind the fact that on the same day, May 21, South African Finance Minister Enoch Godongwana will have another go at tabling his long-disrupted 2025 National Budget to Parliament - a simple function of government that should have been delivered in March.

How strange and perhaps unprecedented that a national budget of critical importance, at a time of the dire state of the economy, will be tabled to Parliament in the absence of the Head of Government. The only common feature is the claim that both the budget and the meeting between Presidents Donald Trump and Cyril Ramaphosa will be attempts at resetting the trajectory and purpose of the South African economy on the one hand, and Pretoria's troubled relations with the US on the other hand.

While the budget vacillation either exposed the fault lines in the Government of National Unity (GNU) coalition led by President Ramaphosa or the politics of the proverbial gun pointed at the head of a compromised administration by the second-largest party in the GNU, the DA, the indaba between Presidents Ramaphosa and Trump at the White House today will likely not result in a meeting of the minds.

The gaps are too huge - ideology, personality, acumen, intellect, chutzpah, military might, financial clout, moral compass, strength of purpose, negotiating playbook, ability to entertain, and history. Ramaphosa's working visit to Washington, DC, between May 19-22, informs the President's Office, is “to discuss bilateral, regional and global issues of interest, and provides a platform to reset the strategic relationship between the two countries.”

MEER VERHALEN VAN Cape Times

Cape Times

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Sun International criticises Treasury's new gambling tax proposal

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WHEN Temba Bavuma led the Proteas to glory at Lord's this past winter, securing the country’s first ICC trophy in the 21st century, it would have crossed many people's minds that the diminutive batter is leading a team that could potentially be the best Test team South Africa has ever produced.

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IN A Road Accident Fund claim with a twist, the Gauteng High Court in Pretoria ruled that when a car is used as a weapon, the fund is not liable to compensate the victim.

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Nampak shares surge nearly 4% as earnings forecast to more than double

NAMPAK'S share price surged 3.9% on the JSE on Thursday after it forecasted a more than 100% increase in headline earnings per share (HEPS) of continuing operations that entrenches its turnaround process.

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Your debt could be insured, and you may not even know

MILLIONS of South Africans face unexpected financial shocks every year, yet many don't realise they may already have insurance that covers their loan repayments if something unexpected happens.

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KAL Group reports strong recovery with 16.7% dividend increase

KAL Group, the South African agri, fuel and convenience speciality retailer listed on the JSE, reported a good recovery in the second half of the year to September 30 and this enabled it to declare a dividend that had been raised by 16.7%.

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Transforming Trump's G20 snub into a strategic advantage for South Africa

THE announcement by US President Donald Trump that South Africa will be “uninvited” from the 2026 G20 Summit is, at face value, a diplomatic provocation. But beneath the headlines lies a far more consequential opportunity: the chance for South Africa - with its business leadership at the forefront - to redefine its global narrative, champion multilateralism and strengthen its position as a bridge between the West and the Global South.

time to read

3 mins

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