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The minister of finance is a minister in the Cabinet of South Africa who is the political head of the National Treasury.The minister of finance is responsible for the financial management of government affairs, drawing up the budget, and developing economic policy (in cooperation with the minister of economic development and the minister of trade and industry).
In 2017, a whistleblower notified the U.S. Securities and Exchange Commission and US Department of Justice, alleging possible violations of the Foreign Corrupt Practices Act in awarding of a R1 billion (2015) (equivalent to R1.17 billion or US$88.54 million in 2018) [6] contract to the Oracle Corporation by National Treasury in 2015.
The executive branch of the national government of South Africa is divided into the cabinet and the civil service, as in the Westminster system. Public administration, the day-to-day implementation of legislation and policy, is managed by government departments (including state agencies with department status), which are usually headed by permanent civil servants with the title of director ...
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For the next forty-six years, South Africa would be governed by the National Party. On 31 May 1961, South Africa became a republic and Queen Elizabeth II was replaced as head of state with a state president with largely ceremonial powers. [37] The Prime Minister was still head of government and appointed/dismissed members of the cabinet.
In 2019 the 17.1% of all South African taxpayers were located in the Western Cape; the province contributed 16.9% of the country's total taxable income thereby contributing to just under R 269.58 billion to the fiscus. [16] Below is a breakdown of the Western Cape governments 2021/22 budget.
David Masondo (born 14 November 1974) is a South African politician who is currently serving as Deputy Minister of Finance since May 2019. He is also the second deputy general secretary of the South African Communist Party (SACP) and a member of the National Executive Committee of the African National Congress (ANC).
The committee oversees the National Treasury and statutory entities, including the Accounting Standards Board, the Co-operative Banks Development Agency, the Development Bank of Southern Africa (DBSA), the Office of the Ombud for Financial Services Providers, the Financial Intelligence Centre (FIC), the Financial and Fiscal Commission, the Financial Sector Conduct Authority, the Government ...