An unprecedented show of unity by all councillors of the Nelson Mandela Bay Municipality was acknowledged when the house raised their hands in unity for a well-balanced Adjustments Budget at a Special Council Meeting yesterday. In fact officials could not recall when last all political parties had voted in favour of a budget. This and the appreciation by opposition parties of the efforts of Dr Danny Jordaan, Executive Mayor, since he took office stood out in a chamber normally mired by … [Read more...] about R160 million cash backed adjustments budget unanimously approved
budget
10 Reasons why SME’s must pay attention to Budget Speech
As the domestic economy continues to contract, Finance Minister, Pravin Gordhan has tough decisions to make while curbing spending, accommodating the drought-stricken agricultural sector and ensuring that small businesses continue to grow. "The National Budget Speech has a direct impact on the bottom line of SMEs and influences long-term business decisions," says Yudhvir Seetharam, Head of Analytics for FNB Business, as he unpacks reasons why small businesses should make time for the budget … [Read more...] about 10 Reasons why SME’s must pay attention to Budget Speech
Consolidated cash flow position improves by more than R160 m
The Nelson Mandela Bay Municipality's healthy financial position received a major thumbs up from all corners including opposition parties amid frank discussions on how to improve the overall performance of the institution at a joint sitting of the Budget & Treasury and Mayoral Committees today. The sitting, convened to consider the Adjustments Budget for 2015/2016, noted with appreciation that the cash position of the Nelson Mandela Bay Municipality improved by R163.9 million from R1,19 … [Read more...] about Consolidated cash flow position improves by more than R160 m
Your 2016 budgeting guide
With January already behind us, 2016 is shaping up as a challenging year for most South Africans; now is the time to review your budget. "This year could be testing for consumers as interest rate hikes and price increases on everyday goods are set to have a detrimental effect on your pocket," says Eunice Sibiya, Head of Consumer Education at FNB. There has never been a more pressing time to be financially prudent and to start employing sound financial tactics to get you through the year. … [Read more...] about Your 2016 budgeting guide
Tips for consumers during the rising interest rate cycle
The latest increase in interest rates is possibly not the last that South Africans will experience over the course of this year. This is largely due to the weak rand and rising maize prices posing a risk to the country's inflation outlook. Ester Ochse, FNB Financial Advisory Channel Head, says even though the increase in interest rates will benefit those with savings and investments, consumers who are servicing debt will be negatively affected. If you have a prime-linked home loan, the … [Read more...] about Tips for consumers during the rising interest rate cycle
Road tripping around the Eastern Cape on a tight budget – Featured Blog
Today's posts from our featured Port Elizabeth Blogger: Road tripping around the Eastern Cape on a tight budget by NMBT Blog: With an overwhelming choice in daring activities and undiscovered corners waiting to be found, the Eastern Cape calls to the adventurous souls. Somewhat under estimated next to its neighbour, the popular Western Cape, the Eastern Cape proudly holds claim to 500km of pristine coastline, stunning beaches and dunes. And who doesn’t want to … [Read more...] about Road tripping around the Eastern Cape on a tight budget – Featured Blog
4 Easy Ways to stretch your shrinking budget
Many South Africans have had to do more with less because of reduced disposable income, affected by the tax increase, rising food prices and rising interest rates. Lee Bromfield, CEO of FNB Life says what they usually see during tough economic times is that people downsize or cut-back on some of their regular expenses to create more financial room. "Unfortunately some people sacrifice in areas such as life or funeral insurance to boost their disposable income. This is NOT advisable because … [Read more...] about 4 Easy Ways to stretch your shrinking budget
So Many Idiots… a marketing lesson
Just a word of caution to those who love to use avatars and images on social media and the like that sometimes they can have unintended consequences. For instance - I monitor the booking requests for Budget Accommodation Port Elizabeth so see all the accommodation quotation requests that are sent through on a daily basis. One recently received in my Gmail account had the accompanying avatar/image for the sender; "So many idiots, so few bullets!" In my experience as a wanna be alpha … [Read more...] about So Many Idiots… a marketing lesson
2015/16 IDP and Budget Review Public Participation Programme
The next session of the 2015/16 IDP and Budget Review Public Participation Programme meetings of the Nelson Mandela Bay Municipality commenced on Tuesday, in terms of which the Municipality will be consulting with the residents of Nelson Mandela Bay, including stakeholders, civil society, government departments and parastatals, to gain their meaningful contributions towards improving development and service delivery in the City. The public participation meetings will be convened in a cluster … [Read more...] about 2015/16 IDP and Budget Review Public Participation Programme
Festive Season Gifts on a Budget
The festive season is around the corner and if you find that you are dreading buying expensive gifts for family and friends on top of all your other financial responsibilities, it is time to change your approach to gift giving. "The biggest difficulty around making the change to giving inexpensive gifts, is managing the expectations of the receivers," says Eunice Sibiya, Head of Consumer Education at FNB. "If you usually give expensive gifts to your family or group of friends you may find … [Read more...] about Festive Season Gifts on a Budget
‘Foolish men reserve’ to finance Civil Servant salary increases
The Government wage bill represents the biggest budget shock says Jaco Leuvennink. The business-as-usual mini budget and adjustments to the current 2015/2016 budget presented in parliament by Finance Minister Nhlanhla Nene on Wednesday will not inspire South Africans. As if to confirm this, the rampant students outside parliament's gates (some even got inside) were only interested in the increases in study fees. While they demanded action at parliament, they did not want to engage with … [Read more...] about ‘Foolish men reserve’ to finance Civil Servant salary increases
Suffer little ratepayers to come unto me …
Port Elizabeth – The Nelson Mandela Bay Budget put forward by new Mayor Danny Jordaan was passed on Thursday in an at times heated debate between political parties. The acceptance of the budget means Nelson Mandela Bay residents will see increases of 9.5% for property rates, 12.2% for electricity, 13% for water, 12% for sanitation and 11% for refuse removal from July. In terms of the tariff increases, Jordaan said the increases compared favourably with other metros and pointed out that the … [Read more...] about Suffer little ratepayers to come unto me …
Jordaans first real test
Port Elizabeth - Nelson Mandela Bay’s newly-elected mayor, Danny Jordaan, will face his first real test as mayor on Thursday as he presents the city’s amended budget for approval. Nelson Mandela Bay’s budget for the 2015/2016 financial year was supposed to be adopted by the end of May. The first version of the budget, presented to council in April, was opposed as it had a deficit of R430m. The acceptance of the budget was then delayed further when former mayor Benson Fihla resigned and … [Read more...] about Jordaans first real test
DA cannot support the city budget
Dear MyPE The Democratic Alliance will not be supporting the approval of the city budget in its current form in council tomorrow as it does not adequately address the demands of an opportunity city. We propose that the budget be referred back to the Budget monitoring committee so that the inputs of all parties can be properly considered. The proposed double digit increases of 9,5% for property rates, 12,2% for electricity, 13% for water, 12% for sanitation and 11% for refuse removal are … [Read more...] about DA cannot support the city budget
2015/16 EC Provincial Budget welcomed
The Coega Development Corporation (CDC) has been allocated R185-million for the 2015/16 financial year for social infrastructure programmes and R669.25-million over the 2015 Medium Term Expenditure Framework (MTEF), the Eastern Cape MEC for Finance Sakhumzi Somyo, announced today in Bhisho as part of his 2015/16 Provincial Budget. The total provincial infrastructure budget amounts to R7.8-billion. “We welcome the budget allocation. It will help with the delivering of turn-key … [Read more...] about 2015/16 EC Provincial Budget welcomed
