Tag: NationalTreasury

South Africa's financial system holds an estimated R88 billion belonging to people who don't know they're owed money. Forgotten retirement fund payouts, dormant bank accounts, unpaid insurance proceeds, and unclaimed investment returns make up much of this money. In many cases, people have become untraceable after changing jobs, moving house, changing surnames, or passing away. Their beneficiaries were never told what they were owed.

The South African Reserve Bank (SARB) and National Treasury published the draft Crypto Asset Manual for Cross-Border Activities for public comment on 3 August 2026. This marks a watershed moment for South Africa’s crypto asset holders and South African Authorised Crypto Asset Service Providers (CASPs). For the first time, cross-border crypto transactions will face a comprehensive regulatory framework with the force of law.

The 2026 National Budget Speech was delivered by Finance Minister Enoch Godongwana on 25 February. He delivered the 2026 budget speech against a backdrop of complex fiscal trade-offs. South Africa continues to face high debt-servicing costs. As a result, the government’s capacity to act as the primary buffer against economic shocks has become more constrained. Therefore, the 2026 budget speech highlights the growing importance of shared responsibility across the broader economy.

National Treasury's draft proposal for a 20% national tax on the gross gambling revenue of all forms of online gambling, including online sports betting, which is legal, must be called what it is: a revenue grab. This proposal violates constitutionalism, undermines democratic practice and punishes enterprise. All of this is dressed up as a measure to reduce social harm. It is, in effect, a revenue-driven gambling tax.