Finance-Cluster

Day 2 of an empowering training where Members of the Standing Committee on Public Accounts (#SCOPA) are deepening their financial knowledge with the South African Institute of Chartered Accountants (SAICA). This crucial training will assist the committee with skills in…

The Standing Committee on Public Accounts (#SCOPA) is currently attending a two-day workshop at the South African Institute of Chartered Accountants (#SAICA) in Cape Town. The training aims to enhance their understanding of financial statements to improve and strengthen oversight…

The Chairperson of the Standing Committee on Public Accounts (#SCOPA), @SongezoZibi, explains that the committee is currently attending a two-day workshop at the South African Institute of Chartered Accountants (#SAICA) in Cape Town. The training aims to enhance their…

The Chairperson of the Standing Committee on Public Accounts (#SCOPA), @SongezoZibi, will be live on Lesedi FM at 14:45 to discuss the committee’s plans regarding the Road Accident Fund (#RAF).

Dr. David Masondo informed #SCOPA that the #Daybreak Business Rescue Plan will be published on 22 August 2025, and the creditors will vote on the plan.

PIC Chief Investment Officer Mr. Kabelo Rikhotso informed #SCOPA that the #PIC is aware of the strikes at #Daybreak Foods. The Business Rescue Practitioner has reached an agreement with the unions.

The Standing Committee on Appropriations and the Portfolio Committee on Home Affairs are today holding a joint meeting to receive a briefing from the Portfolio Committee on Home Affairs on the persistent underfunding of the Border Management Authority and its implications for…

PIC Chief Investment Officer, Mr. Kabelo Rikhotso informed #SCOPA that the #PIC injected R250 million into #Daybreak Foods earlier this year and, just a week ago, used its own balance sheet to inject an additional R150 million into the company. He said Daybreak Foods is a…

PIC Chief Investment Officer Mr. Kabelo Rikhotso informed #SCOPA that investment decisions are largely made by the investment team, as the Board has delegated this authority to them.

Deputy Minister of Finance, Dr. David Masondo, led the PIC team that appeared before #SCOPA today in his capacity as Chairperson of the #PIC Board. He delivered opening remarks regarding the performance of the unlisted portfolio, the Daybreak Foods investment, and the overall…

The Standing Committee on Public Accounts (#SCOPA) received a briefing today from the Public Investment Corporation (#PIC) regarding the unlisted portfolio managed by the PIC. This discussion was initiated following a presentation by the Auditor-General concerning the…

The Standing Committee on Public Accounts (#SCOPA) will today hold a follow-up session with the Public Investment Corporation (#PIC) to discuss investments in both listed and unlisted portfolios, on behalf of: •The Unemployment Insurance Fund (#UIF) •The Compensation Fund Catch…

SCOPA will hold a follow-up meeting with the Post Office. The committee needs to have a conversation with the Minister and executives of the Post Office on the reasons behind the unbundling of Postbank from the Post Office, among other issues.

The Business Rescue Practitioners told #SCOPA that any outstanding work at the Post Office is funding dependent.

SCOPA has asked the Business Rescue Practitioners to provide a full list of all properties that have been vandalized or hijacked to an extent that repairing them might cost the Post Office more. #SCOPA

The Chairperson of the Standing Committee on Public Accounts (#SCOPA), @SongezoZibi, will be live on @eNCA tomorrow morning at 06:40 to discuss the dissolution of the Road Accident Fund Board. #RAF

Business Rescue Practitioner Mr. Anoosh Rooplal told #SCOPA that the business rescue process has returned assets worth R1.7 billion back to the government. The Post Office is now debt-free and technically solvent.

Business Rescue Practitioners have informed #SCOPA that the South African Post Office currently lacks a functioning audit risk committee due to the dissolution of its Board in 2023. #Accountability #Oversight

Mr Solly Gaybba, responsible for operations at @PostofficeSa, told #SCOPA that the Post Office faces an ageing workforce that must be upskilled to be effective in the digital era. To maintain revenue and expand into new markets like e-commerce and digital financial services, the…

The Standing Committee on Appropriations is today considering its draft reports on the Eskom Debt Relief Bill and the Appropriation Bill. The Eskom Debt Relief Bill deals with funds to be transferred to Eskom to assist the entity in fulfilling its financial obligations. The…