Finance Minister Enoch Godongwana.
Image: Picture: Ayanda Ndamane
Wake up to the shifts shaping the future.
From boardroom shakeups and billion-dollar bets to the latest tech breakthroughs rewriting the rules, The Company Brief is your front-row seat to the stories moving markets and mindsets.
We cut through the noise so you can stay ahead of the curve, one bold business move at a time.
South Africa’s fiscal outlook brightens slightly ahead of 2025 MTBPS
Finance Minister Enoch Godongwana is expected to deliver a cautiously optimistic Medium-Term Budget Policy Statement (MTBPS) on Wednesday, showing stronger revenue collection, contained expenditure growth, and a smaller-than-expected deficit, even as sluggish growth and high debt remain major fiscal challenges. According to Nedbank's economist, Isaac Matshego, the budget deficit is projected to narrow to 4.4% of GDP in FY2025/26, down from the 4.8% estimated in Budget 2025, thanks to higher-than-anticipated tax revenues and disciplined spending. “Revenue growth has been boosted by robust collections in personal, corporate, and value-added taxes,” Matshego said last week, noting that gross tax revenue could overshoot earlier estimates by R60 billion in FY2025/26 and as much as R200bn over the medium term.
Markets rejoice potential end to US government shutdown
Global markets are set to begin the week with an oomph as investors cheer the prospect of an imminent end to a historic U.S. government shutdown that has upended everything from air travel to key economic data releases. In a procedural vote, the U.S. Senate on Sunday advanced a House-passed bill that will be amended to fund the government until January 30 and include a package of three full-year appropriations bills. If the Senate eventually passes the amended bill, the package still must be approved by the House of Representatives and sent to President Donald Trump for his signature, a process that could take several days. Nonetheless, the positive stride was enough to send Nasdaq futures up 1.2% and S&P 500 futures up 0.7% in Asia, with European futures also clocking strong gains. Asia stocks were upbeat, while U.S. Treasury yields and the dollar rose.
South African expats face heightened restrictions on repatriating income
South Africans who have emigrated but still receive income from South Africa now face stricter requirements and bureaucracy when trying to transfer those funds abroad. The new rules require clearance under South Africa’s exchange control and tax regulations before funds can be moved internationally. According to News24, the changes reflect the government’s efforts to tighten oversight of outbound capital and ensure compliance with tax and exchange control rules. For emigrants, this means more administrative steps, potential delays, and less flexibility in managing offshore funds.