{"id":811193,"date":"2025-02-11T10:42:24","date_gmt":"2025-02-11T08:42:24","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=811193"},"modified":"2025-02-11T10:42:30","modified_gmt":"2025-02-11T08:42:30","slug":"big-development-for-businesses-in-south-africa-that-want-to-partner-with-government","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/government\/811193\/big-development-for-businesses-in-south-africa-that-want-to-partner-with-government\/","title":{"rendered":"Big development for businesses in South Africa that want to partner with government"},"content":{"rendered":"\n<p>South Africa enacted changes to its public finance laws that will reduce the red tape for projects valued at less than R2 billion where the government partners with private businesses.\u00a0<\/p>\n\n\n\n<p>The amendments to Regulation 16 of the Public Finance Management Act also introduce the concept of unsolicited proposals, where a company can pitch ideas for projects to a state institution instead of first waiting for the government to request bids.&nbsp;<\/p>\n\n\n\n<p>The National Treasury first proposed the amendments in February last year and published the changes in a government notice on Feb. 7. They take effect from June 1.&nbsp;<\/p>\n\n\n\n<p>With finances of the state and government-owned companies \u201chollowed out,\u201d public-private partnerships \u201care the best chance we have,\u201d Business Leadership South Africa Chief Executive Officer Busisiwe Mavuso said in August.&nbsp;<\/p>\n\n\n\n<p>Weak economic growth that\u2019s averaged less than 1% annually over the past decade has left the National Treasury with few options to reduce debt repayments that consume more than a fifth of its budget and fund a rising wage bill without cutting spending to government departments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Africa has changed its public finance laws, cutting red tape for private-public partnerships. <\/p>\n","protected":false},"author":59,"featured_media":782047,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[1850],"class_list":["post-811193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-government","tag-bloomberg"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/811193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=811193"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/811193\/revisions"}],"predecessor-version":[{"id":811198,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/811193\/revisions\/811198"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/782047"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=811193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=811193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=811193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}