Maruo, Author at SAIGA

Media Statement – SAIGA Expects Budget Vote to Address Key Challenges Challenges

Maruo — Mon, 04 Mar 2024 09:56:39 +0000

Media Statement - SAIGA Expects Budget Vote to Address Key Challenges Challenges

Johannesburg – The Minister of Finance, Mr Enoch Godongwana is scheduled to give the Budget Vote on Wednesday, 21 of February 2024, and there is much anticipation and speculation about what the budget will entail.

One of the most pressing issues that the Southern African Institute of Government Auditors (SAIGA) expects the government to address in this budget is the energy crisis, which has resulted in frequent load shedding and has had a significant impact on the economy and the daily lives of South African citizens.

Mr. Russel Morena, Chief Executive Office of the Southern African Institute of Government Auditors (SAIGA) says that the energy crisis has affected businesses, jobs, and ultimately, the country’s overall economic growth. Therefore, he says it is crucial that the budget allocates sufficient resources and funding to address this issue.

In addition to the energy crisis, Mr. Russel Morena says that there are various other challenges that the government must consider when preparing the budget. These challenges include high unemployment rates, poverty, healthcare, education, and infrastructure development.

Mr Morena says: “The upcoming budget speech by the minister of finance holds a lot of importance for the citizens of South Africa. We are expecting measures and initiatives that will address the challenges of the struggling economy, high unemployment rates, and skills shortages. It is crucial for the minister to be realistic in his budget terms and to prioritise the needs of the citizens.”

Accountability and transparency in the implementation of these initiatives are also key factors that SAIGA look’s for. “Our hope is that the minister’s speech will provide positive signs and initiatives that show the government’s commitment to addressing the issues in our country. If these expectations are not met, it will be a great disappointment to the citizens of South Africa. We hope that the budget will reflect a strategic and comprehensive approach to addressing these issues and promoting inclusive growth and development,” says Mr Morena.

As an organisation dedicated to promoting good governance and accountability in the public sector, SAIGA urges the government to prioritise transparency and accountability in its budgeting process. It is essential that the budget allocations are aligned with the government’s policy priorities and are effectively managed and monitored to ensure that they are used efficiently and effectively.

As an organisation dedicated to promote good governance and accountability in the public sector, SAIGA urges the government to prioritise transparency and accountability in its budgeting process.

Mr Morena says that it is essential that the budget allocations are aligned with the challenges faced by the citizens and are effectively managed and monitored to ensure that they are used efficiently and effectively.

“We also urge the government to prioritise the allocation of resources to address the energy crisis, while also ensuring that the budget reflects a comprehensive approach to promoting inclusive growth and development. We also call for transparency and accountability in the budgeting process to ensure that the allocated resources are effectively managed and used to achieve the intended outcomes. We hope that the upcoming budget will proved accountability and will set a positive and strategic direction for addressing the country’s key challenges and help promote sustainable development for all South Africans,” said Mr Morena.

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Media Statement – SAIGA CEO DELVES INTO THE 2024 BUDGET SPEECH

Maruo — Mon, 04 Mar 2024 09:44:46 +0000

SAIGA CEO DELVES INTO THE 2024 BUDGET SPEECH

Minister of Finance, Mr. Enoch Godongwana made a lot of promises and announced a raft of budget allocations that will be going to state-owned entities as well as provinces including municipalities in his 2024 Budget Speech. The Southern African Institute of Government Auditors (SAIGA), Chief Executive Officer, Russel Morena, delves deeper into Budget Speech and explores the question of whether or not South Africa can succeed in overcoming these challenges.

Morena argues that there are not only many weaknesses in the South African system but also he points to challenges, the main one being that of economic growth and employment creation. On the other hand, it is the performance of the state and service delivery, and on top of it all is the debt burden that seems to be increasing every year.

According to Morena, it is clear that South Africa is facing significant challenges on multiple fronts. “The economy is struggling to achieve sustained growth, and this is further compounded by the need for job creation. Additionally, the performance of the state as well as service delivery has been a cause for concern. The mounting debt burden is placing a significant strain on the country’s financial resources,” says Morena.

Although he admits South Africa is taking steps in the right directions, Morena, however, points out that the country is really in survival mode, and when looking at this budget and the fact that the minister had to dip into the golden reserve account in order to keep State date debt under control and reduce the borrowing requirement to levels that wouldn’t scare the living daylights out of ordinary citizens, is a clear indication of exactly how tight things are.

Morena, in his analysis of the Budget Speech, does acknowledge the efforts being made to address these challenges, however, he expresses a sense of a lack of urgency and the need for decisive action. He also states that the decision to tap into the country’s reserve account to keep the state debt under control is indicative of the tight fiscal environment and the need for prudent financial management, pointing out that while this may be a necessary step it could underscore the severity of the financial constraints facing the country.

Moreover, Morena highlighted the need for effective policy implementation, particularly in key sectors such as electricity, rail and port infrastructure. While the government may have the right policy framework in place, he says the pace of implementation has been slow, hindering progress and economic development. “This “two steps forward, one step back” approach is a cause for concern and underscores the need for greater efficiency and expediency in driving economic reforms,” explains Morena.

As auditors, Morena says: “We are calling for a more holistic approach to addressing the challenges facing our economy. This includes not only looking at tax policy and revenue collection but also addressing the issues of state capacity, infrastructure investment and economic growth. As SAIGA, we believe that a collaborative effort between government, business and civil society is needed to drive sustainable economic development and create opportunities for all citizens. This will require a comprehensive and coordinated approach that tackles the root causes of inequality and unemployment, while also ensuring efficient and transparent public expenditure.”

Morena further adds that the Institute will continue to monitor closely the country’s economic and fiscal landscape and provide valuable insights to support informed decision-making and policy formulation. With concerted and strategic efforts, he says it is hoped that South Africa will be able to overcome the financial obstacles and achieve sustainable economic growth and development.

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PRESS STATEMENT – RAKGWALE WINS SECOND TERM AS SAIGA PRESIDENT

Maruo — Mon, 03 Jul 2023 07:21:13 +0000

PRESS STATEMENT - RAKGWALE WINS SECOND TERM AS SAIGA PRESIDENT

Click Link Below to Read Press Statement.

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