Day: February 29, 2024

Limpopo Premier Stan Mathabatha says the province has, over the past decade, worked tirelessly to bring stability and sound administration.

‘Through collective effort and unwavering commitment, we have seen remarkable improvements in audit outcomes and overall provincial performance,’ Mathabatha said.

Delivering the State of the Province Address in Polokwane on Thursday, Mathabatha said the once prevalent disclaimer audit opinions are now a thing of the past in the provincial departments, public entities and municipalities.

“In 2013, Limpopo was at a critical juncture. Five departments were under national administration. Confidence in our provincial administration was waning. Our task was clear, yet daunting. It was to breathe life back into these departments and restore confidence in our governance.

‘[Now] no department is under administration. As we reflect on the progress we have made, let us also look to the future with optimism and determination,’ Mathabatha said.

Mathabatha said the story of Limpop
o’s renewal and development is far from over.

‘It is a continuous journey, one that requires an active citizenry, and the collective effort of every community and leader. Together, we can build on the foundation we have laid, striving for even greater achievements and a brighter future for all who call Limpopo home.

‘Our trajectory towards a Limpopo that we all yearn for is taking shape during an unfavorable, harsh global reality,’ he said.

Mathabatha said under the circumstances, the province needs to build greater self-reliance and increase its share of value addition in finished products.

‘It is important to continue our efforts to achieve manufacturing localisation, to deepen and expand domestic beneficiation of our minerals and primary agricultural products, industrialise and drive large-scale employment,’ he said.

Mathabatha said since 2022, the province has become the fifth largest province in South Africa.

‘Although we have moved from the fourth spot, we have become the largest contributor to Ga
uteng’s population.

‘Our economic and social development programmes should help us retain our youth, while protecting their freedom of movement. Democracy has brought about many shifts. More people stay where they want to,’ he said.

Food security

Mathabatha said the provincial government remains determined to support its people in food production.

‘Limpopo has established a firm role in food security in our country.’

Mathabatha said 29% of households in the province now grow food in their yards.

‘This is a testament to the fact that we have an active citizenry in food production. We remain determined to support our people in food production,’ Mathabatha said.

He emphasised the need to build on the progress made, harnessing the potential of the youth, investing in infrastructure, fostering industrialisation and promoting sustainable development.

‘… We have made progress in addressing the legacy of colonialism and apartheid. We also all acknowledge that there is still a lot of work to be done. I am s
ure we all agree that the road to success is a journey, not a sprint,’ Mathabatha said.

Mathabatha said as the province, they reaffirm what President Cyril Ramaphosa said during the State of the Nation Address earlier this month, that the provincial government must strive for a non-racial and non-sexist democratic South Africa.

Source: South African Government News Agency

WINDHOEK: Minister of Finance and Public Enterprise, Iipumbu Shiimi, says the allocation of N.dollars 6.8 billion to the administrative sector for the 2024/25 Financial Year is to support effective governance and efficient administration of public services.

Shiimi, while tabling the National Budget on Wednesday, said the administration sector received 7.8 per cent of the budget allocations.

The budget of the Ministry of Urban and Rural Development was increased by 37.6 per cent to N.dollars 2.6 billion.

‘This allocation includes N.dollars 250 million in FY2024/25 and N.dollars 175 million in FY2025/26 for the rollout of prepaid water and electricity meters in various local authorities as a long-term solution to the rising debt with NamPower and NamWater,’ he stated.

The minister said an additional N.dollars 141 million has been allocated for the transformation of the Aus and Lderitz local authorities in order to improve services because of the growing population driven by oil and gas exploration, as well
as green hydrogen activities, in the ||Kharas Region.

Shiimi said the Electoral Commission of Namibia has been allocated N.dollars 438 million in the 2024/25 financial year to ensure smooth and timely voter registration, as well as to undertake the Presidential and National Assembly Elections slated for November this year.

The public safety sector has been allocated N.dollars 15.4 billion and about N.dollars 48 billion over the mid-term expenditure framework and takes up 17.6 per cent of the non-interest budget for the 2024/25 financial year.

An amount of N.dollars 106 million has been allocated to the Anti-Corruption Commission, a 29.8 per cent increase from the previous financial year. According to Shiimi, the increase is to help the ACC improve implementation capacity, particularly in the area of combating anti-money laundering and financial crimes.

‘Despite the recent grey listing by the Financial Action Task Force, we have made significant progress and remain committed to address the outstanding acti
on items for us to be removed from the grey list in the shortest time possible,’ said the minister.

Shiimi presented a N.dollars 100.1 billion budget under the theme ‘Continuing the legacy of His Excellency Dr Hage G. Geingob by caring for the Namibian child.’

Source: The Namibia Press Agency

WINDHOEK: Minister of Finance and Public Enterprise, Iipumbu Shiimi, says the allocation of N.dollars 6.8 billion to the administrative sector for the 2024/25 Financial Year is to support effective governance and efficient administration of public services.

Shiimi, while tabling the National Budget on Wednesday, said the administration sector received 7.8 per cent of the budget allocations.

The budget of the Ministry of Urban and Rural Development was increased by 37.6 per cent to N.dollars 2.6 billion.

‘This allocation includes N.dollars 250 million in FY2024/25 and N.dollars 175 million in FY2025/26 for the rollout of prepaid water and electricity meters in various local authorities as a long-term solution to the rising debt with NamPower and NamWater,’ he stated.

The minister said an additional N.dollars 141 million has been allocated for the transformation of the Aus and Lderitz local authorities in order to improve services because of the growing population driven by oil and gas exploration, as well
as green hydrogen activities, in the ||Kharas Region.

Shiimi said the Electoral Commission of Namibia has been allocated N.dollars 438 million in the 2024/25 financial year to ensure smooth and timely voter registration, as well as to undertake the Presidential and National Assembly Elections slated for November this year.

The public safety sector has been allocated N.dollars 15.4 billion and about N.dollars 48 billion over the mid-term expenditure framework and takes up 17.6 per cent of the non-interest budget for the 2024/25 financial year.

An amount of N.dollars 106 million has been allocated to the Anti-Corruption Commission, a 29.8 per cent increase from the previous financial year. According to Shiimi, the increase is to help the ACC improve implementation capacity, particularly in the area of combating anti-money laundering and financial crimes.

‘Despite the recent grey listing by the Financial Action Task Force, we have made significant progress and remain committed to address the outstanding acti
on items for us to be removed from the grey list in the shortest time possible,’ said the minister.

Shiimi presented a N.dollars 100.1 billion budget under the theme ‘Continuing the legacy of His Excellency Dr Hage G. Geingob by caring for the Namibian child.’

Source: The Namibia Press Agency

National Treasury has published its Policy Position Statement titled, ‘A Simpler, Stronger Financial Sector Ombud System’, which outlines proposed reforms to the ombud system.

The Policy Position Statement follows the publication of a World Bank Diagnostic Study in 2021 titled, ‘South Africa – Financial Ombud System Diagnostic’.

‘The study provided an independent review of South Africa’s financial ombud system and recommended reforms to enhance consumer protection and encourage good quality outcomes in the financial services sector,’ National Treasury said on Thursday.

Prior to the diagnostic study, an earlier discussion document titled, ‘A Known and Trusted Ombud System for All (2017)’, had proposed initial reforms to the ombud system, which were later included in the Financial Sector Regulation (FSR) Act (Act 9 of 2017), as part of the Twin Peaks financial sector regulatory reform.

National Treasury said the publication of the policy position is a necessary step to communicate and publish its Policy Pos
ition Statement and accompanying detailed feedback statement, including an implementation plan.

‘This publication also provides a response to consultation comments, and enables ombud schemes and the Ombud Council to work towards implementing a reformed structure,’ National Treasury said.

Key elements of the proposed reform that National Treasury supports include:

Structural reform of the ombud system, that will reduce the seven ombud schemes to two:

A new, consolidated ombud scheme: National Financial Ombud (NFO) – a new body, independent of industry and government, replacing 6 of the current 7 schemes (all the industry schemes plus the FAIS Ombud).

A Retirement Funds Ombud (RFO) – a renamed and reformed Pension Funds Adjudicator, with a board to underpin its independence and oversee its efficiency and effectiveness. National Treasury considers that it would be too complex a transition for the NFO to absorb the work of the RFO at this stage. However, this is likely to happen in the medium term, once the
NFO has been up and running for a while.

A modified Ombud Council – modifications to the title and appointment of its chief executive and (later) a review of its powers in the light of the simplification of the ombud system.

Improved consistency across the ombud system on visibility and accessibility, eligibility of complainants, processes, powers and enforceability of decisions, and improved coverage to significantly reduce jurisdictional gaps and overlaps

‘Full implementation of the above reforms will require legislative amendments. In the interim, National Treasury notes and welcomes the voluntary amalgamation, in consultation with the Ombud Council, of four of the current industry schemes (Credit, Banking, Long-term Insurance and Short-term Insurance) to form a new, streamlined industry scheme, the National Financial Ombud Scheme South Africa (NFO).

‘The NFO is expected to commence operations on 1 March 2024, after recognition by the Ombud Council. This is an important step towards the broader reforms
outlined in the policy position and will simplify their implementation,’ National Treasury said.

The following documents are available on the website of the National Treasury at www.treasury.gov.za:

Annexure A: A Simpler, Stronger Financial Sector Ombud System: Policy Position Statement.

Annexure B: A Simpler, Stronger Financial Sector Ombud System: Feedback Statement.

Source: South African Government News Agency

KATIMA MULILO: The 34th National Independence Day celebrations will be held in the Zambezi Region this year.

This is the first time the Zambezi Region is hosting the national independence celebration.

In terms of historic and political events, the region has hosted Heroes’ Day in 2005.

Zambezi Chief Regional Officer, Regina Ndopu, confirmed to Nampa on Thursday that the regional council has received the notification already concerning the event from the headquarters and in turn, local authorities have formed committees to prepare for this major event.

‘This is a national event. We therefore pride ourselves to host this event at this time in 2024. Apart from the locals, we are expecting to receive more outside delegations including international guests,’ Ndopu stated.

She said more information regarding the event will be shared in due course.

Namibia attained independence on 21 March 1990.

Source: The Namibia Press Agency