South Africa's National Treasury has introduced a new budget mechanism that aims to identify and cut under-performing or low-priority government programmes. The new targeted and responsible savings (Tars) mechanism is part of the broader budget reform agenda aimed at ensuring that the national budget reflects the country's most pressing needs and highest-impact interventions. Tars will review spending and use AI to conduct an annual audit of ghost workers and payroll irregularities, among other things. Thabiso Lehoko spoke to Dawie Roodt, founder, Director and Chief Economist of the Efficient Group.

South Africa's National Treasury has introduced a new budget mechanism that aims to identify and cut under-performing or low-priority government programmes. The new targeted and responsible savings (Tars) mechanism is part of the broader budget reform agenda aimed at ensuring that the national budget reflects the country's most pressing needs and highest-impact interventions. Tars will review spending and use AI to conduct an annual audit of ghost workers and payroll irregularities, among other things. Thabiso Lehoko spoke to Dawie Roodt, founder, Director and Chief Economist of the Efficient Group.

In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.

In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.

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Africa in Business

South Africa's National Treasury introduces TARS to identify and cut under-performing or low-priority government programmes

Earlier, the African Export-Import Bank (Afreximbank) issued a statement announcing the termination of its relationship with credit ratings firm Fitch, due to what it said was a "firm belief" that the agency's rating approach no longer reflected an understanding of the bank's mission and mandate.

Last year, Fitch cut Afreximbank's credit rating to one notch above 'junk' status and has it on a 'negative outlook'.

 Thami Ngubeni spoke to Zwelibanzi Maziya, the Chief Operating Officer at Sovereign Africa Rating.

Earlier, the African Export-Import Bank (Afreximbank) issued a statement announcing the termination of its relationship with credit ratings firm Fitch, due to what it said was a "firm belief" that the agency's rating approach no longer reflected an understanding of the bank's mission and mandate.
Last year, Fitch cut Afreximbank's credit rating to one notch above 'junk' status and has it on a 'negative outlook'.
&nbsp;Thami Ngubeni spoke to Zwelibanzi Maziya, the Chief Operating Officer at Sovereign Africa Rating.

Afreximbank terminates its relationship with Fitch Ratings

Victor Kgomoeswana, author of  "Africa Is Open For Business" and "Africa Bounces Back", and the Executive Director for Marketing and Communication at the University of Limpopo, rounds up business stories that made headlines in the wee.. 

TALKING POINTS:

** CALEDONIA Mining Corporation has secured $150m through a seven-year convertible bond to finance its Bilboes development, set to become Zimbabwe's largest gold operation.

** Ghana set to begin construction of the nation's tallest bridge with Japanese-backed technology

** Liberia has once again consolidated its position as the world's largest shipping registry,

**  Nigeria's Zenith Bank PLC has received regulatory approval to acquire 100 per cent of Paramount Bank Limited

Victor Kgomoeswana, author of &nbsp;"Africa Is Open For Business" and "Africa Bounces Back", and the Executive Director for Marketing and Communication at the University of Limpopo, rounds up business stories that made headlines in the wee..&nbsp;
TALKING POINTS:
** CALEDONIA Mining Corporation has secured $150m through a seven-year convertible bond to finance its Bilboes development, set to become Zimbabwe's largest gold operation.
** Ghana set to begin construction of the nation's tallest bridge with Japanese-backed technology
** Liberia has once again consolidated its position as the world's largest shipping registry,
** &nbsp;Nigeria's Zenith Bank PLC has received regulatory approval to acquire 100 per cent of Paramount Bank Limited

Business round-up with author, Executive Director for Marketing and Communication at the University of Limpopo, Victor Kgomoeswana

Ghana's President, John Dramani Mahama, says many African countries are caught in what he calls a "triple dependency", relying on external powers for security decisions, health and education systems, while exporting critical minerals with little value added at home.

Speaking in Davos, Switzerland, on the sidelines of the World Economic Forum (WEF), Mahama urged African nations to take greater ownership of their development and chart an independent path forward.

Channel Africa's economics reporter, Innocent Semosa, has more.

Ghana's President, John Dramani Mahama, says many African countries are caught in what he calls a "triple dependency", relying on external powers for security decisions, health and education systems, while exporting critical minerals with little value added at home.
Speaking in Davos, Switzerland, on the sidelines of the World Economic Forum (WEF), Mahama urged African nations to take greater ownership of their development and chart an independent path forward.
Channel Africa's economics reporter, Innocent Semosa, has more.

South Africa's National Treasury introduces TARS to identify and cut under-performing or low-priority government programmes

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