Finance Minister Enoch Godongwana has proposed in his first Mid-Term Budget Speech in parliament that government insurance entity, Sasria, be allocated R3.9 billion to ensure claims following the July public looting and violence are settled.
Sasria will be allocated an additional R11 billion in the 2021/22 fiscal framework, which should further support be required in the current year.
Godongwana says the budget has also made proposals for the Police Service and the National Defence Force to be allocated additional funding of R950 million.
“This includes R37.9 billion in direct fiscal support. We are now making an additional R11 billion available to the South African Special Risk Insurance Association (Sasria) to enable them to continue settling legitimate claims from businesses damaged during the unrest. To strengthen the fight against crime we have allocated additional funding to the National Defence Force and the police services,” Godongwana explains.
VIDEO: 2021 Mid-Term Budget Policy Statement