Read more
NPA receives R1.3 billion to implement state capture inquiry recommendations
Godongwana says SA should be prepared for the possibility that it could be grey-listed on Friday.
Picture File: President Cyril Ramaphosa receives the final state capture report from Chief Justice Raymond Zondo. Image: GCIS/Flickr
Finance Minister Enoch Godongwana has allocated R1.3 billion to the National Prosecuting Authority (NPA) to support its implementation of the recommendations of the state capture commission and
the Financial Action Task Force (FATF).
2023 budget speech
Godongwana on Wednesday tabled the 2023 budget speech in the National Assembly at Cape Town City Hall.
ALSO READ: Here’s how using solar will score households and businesses some tax relief
He said Treasury allocated R14 billion over the medium term to fight crime and corruption to several law enforcement agencies.
This included R100 million allocated to the Special Investigating Unit (SIU) to initiate civil litigation in the Special Tribunal, flowing from proclamations linked to the recommendations of the state capture commission, which was chaired by Chief Justice Raymond Zondo.
R7.8 billion was allocated to the South African Police Service (Saps) to appoint 5 000 police trainees per year. The Financial Intelligence Centre will receive an additional R265.3 million to tackle organised and financial crime.
SA’s grey-listing concerns
Regarding concerns that South Africa could be added to the FATF‘s grey list on Friday, Godongwana said the country should be prepared for this possibility.
He said government had made substantial progress to address weaknesses highlighted by the global money laundering and terrorist financing watchdog, which SA has been part of since 2003.
RELATED: Government to take on Eskom’s debt of R254 billion
The watchdog published its mutual evaluation report in 2021 highlighting vulnerabilities in the
country’s anti-money laundering system.
Godongwana said two laws have been enacted to address the technical deficiencies in the legislative
framework. These are the General Laws Amendment Act of 2022, and the Protection of Constitutional Democracy Against Terrorist and Related Activities Amendment Act.
“The laws address 15 of the 20 legislative deficiencies identified by FATF. The remaining five deficiencies will be addressed through regulations and practices that do not require legislation.
“We recognise the need to be more effective in implementing our laws, particularly in fighting organised and sophisticated crimes,” he said.
Should South Africa be grey-listed, this could lead to increased banking fees and scrutiny from international banks.
NOW READ: SAA and Post Office to receive massive bailouts from govt
