South Africa turned down are quest from its southern African neighbour Zimbabwe for a $1.2billion loan in December, a spokesman for the finance ministry said on Monday.
Home affairs Minister Malusi Gigaba says during his tenure as Finance Minister, he called for a commission of inquiry into South African Reserve Service (SARS).
The Financial and Fiscal Commission (FFC) says government guarantees should not be used as an “easy option” to balance the books of state-owned companies.
Business Leadership South Africa (BLSA) has lamented the resignation of the head of National Treasury’s budget office, deputy director-general Michael Sachs, saying that it was of “enormous concern”.
The National Treasury says municipal debt owed by households, commercial entities as well as state organs has escalated to R128 billion.