Dinner with the Minister of Finance
SANDTON – Nhlanhla Nene talks economy, inflation, national health insurance and tax.
Business owners of Randburg had the privilege of attending an executive dinner with Minister of Finance Nhlanhla Nene on 11 September. Randburg Chamber of Commerce and Industry (RCCI) members were invited to the dinner at Discovery, Sandton, which was hosted by the South African Chamber of Commerce and Industry (SACCI).
Delicious food was served while the minister discussed key challenges to the South African economy (including unemployment, consumer inflation and rising debt), the National Development Plan (NDP) and why businesses should support it, the national budget and fiscal sustainability, and the National Tourism Stakeholder Forum (NTSF). Nene added that the next national budget will aim to do more with less money, which will include the limiting of spending on non-essential goods.
Nene said that the government will soon phase in National Health Insurance, as every South African has the right to medical attention. The Tax Review Committee is also investigating how tax affects small and medium enterprises, and hopes to complete its inquiries by the end of this year.
Business owners then asked the minister questions on topics ranging from import taxes on vehicles to how businesses can help poor communities and what businesses should do if local municipalities fail to deliver. One businesswoman asked the minister to request the government to give every South African R1-million. “Stop the wine coming,” he then jokingly said to the waiters.
“He certainly encouraged us to persevere even though times are tough,” said RCCI manager Linda Blackbeard. “The proactive and positive- minded business persons have an opportunity in the face of adversity of the current and seemingly negative economic climate to make a place for themselves if they plan well, work hard and stay focused on the positive.”
Nedbank Relationship Manager William Modise said that the minister’s speech was “quite good” but did not address the realities in South Africa. Linden businesswoman Lorranne Letwaba said that she enjoyed the speech, and it was good for the minister to hear the concerns of “normal people”. However, she though that he sidestepped the question on import taxes on vehicles, and would have liked him to speak more on tax in general.
Details: Randburg Chamber of Commerce and Industry admin@rcci.co.za or 086 101 9218.
