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"title": "CATCH UP — Budget speech: VAT stays at 15%, expansion of zero-rated basket scratched",
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"contents": "<div style=\"background-color: #f5f5f5; border-left: 5px solid #ccc; padding: 16px; margin: 20px 0; border-radius: 6px;\">\r\n<h3 style=\"margin-top: 0;\">Read more:</h3>\r\n<ul style=\"margin: 0; padding-left: 20px;\">\r\n \t<li><a href=\"https://www.dailymaverick.co.za/article/2025-05-21-investing-in-the-future-south-africas-budget-focuses-on-infrastructure-and-social-welfare/\">Read in full:</a> Finance Minister Enoch Godongwana’s May 2025 Budget Speech</li>\r\n \t<li><a href=\"https://www.dailymaverick.co.za/article/2025-05-21-enoch-godongwanas-budget-a-delicate-balance-of-debt-control-and-social-investment-unveiled/?dm_source=dm_block_grid&dm_medium=card_link&dm_campaign=main\">Enoch Godongwana’s budget</a>: a delicate balance of debt control and social investment unveiled</li>\r\n \t<li><a href=\"https://www.dailymaverick.co.za/article/2025-05-21-education-and-health-funding-slashed-while-fuel-levy-increased/?dm_source=dm_block_list&dm_medium=card_link&dm_campaign=main\">Education and health funding</a> slashed while fuel levy increased</li>\r\n \t<li>Tax tightrope — <a href=\"https://www.dailymaverick.co.za/article/2025-05-21-tax-tightrope-what-the-budget-means-for-your-wallet/\">what the Budget means for your wallet</a></li>\r\n</ul>\r\n</div>",
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"description": "Enoch Godongwana, born on June 9, 1957, is a South African politician and former trade union leader. He currently serves as South Africa's Finance Minister since August 2021 and is a member of the African National Congress (ANC) National Executive Committee.\r\n\r\nHe was born in Cala in the former Cape Province, now part of the Eastern Cape. He matriculated at St John's College in Mthatha, holds an MSc degree in Financial Economics from the University of London.\r\n\r\nGodongwana's political career took off when he served as the general secretary of the National Union of Metalworkers from 1993 to 1997. Following this, he held the position of Member of the Executive Council for Finance in the Eastern Cape's Executive Council from 1997 to 2004. He was elected to the ANC National Executive Committee in December 1997 and also served as the Deputy Provincial Chairperson of the ANC's Eastern Cape branch from 2003 to 2006 under Chairperson Makhenkesi Stofile. However, his tenure on the Executive Council ended in September 2004 when Premier Nosimo Balindlela dismissed him amid controversy.\r\n\r\nGodongwana held deputy ministerial positions in President Jacob Zuma's first cabinet, initially as Deputy Minister of Public Enterprises from 2009 to 2010 and then as Deputy Minister of Economic Development from 2010 to 2012. In January 2012, he resigned due to a scandal involving his investment company, Canyon Springs. Despite this, he maintained prominence as the long-serving chairperson of the ANC National Executive Committee's economic transformation subcommittee and as the chairperson of the Development Bank of Southern Africa from 2019 to 2021.\r\n\r\nOn August 5, 2021, President Cyril Ramaphosa announced a cabinet reshuffle, appointing Godongwana as the new Minister of Finance, succeeding Tito Mboweni, who had requested to step down. This announcement initially caused the rand to lose value, but it quickly recovered, reflecting Godongwana's positive reputation with investors. Observers also noted that Godongwana's strong political relationships within the Tripartite Alliance likely gave him more political influence than Mboweni. He initially served in the cabinet from outside Parliament until February 28, 2023, when he was officially sworn in as a member of the National Assembly, replacing Mike Basopu.",
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"summary": "After two failed attempts — one blocked by legal action, and another torpedoed by coalition deadlock over the now-withdrawn VAT increase — Finance Minister Enoch Godongwana has finally delivered the 2025 Budget Speech today at 14:00. This marks the third scheduled tabling of the budget, following weeks of political and fiscal turbulence.",
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