Reducing red tape for business and tackling the funding gap for higher education are among the items on the wishlist of ordinary South Africans ahead of Finance Minister Enoch Godongwana’s 2025 Budget Speech, this afternoon.
Michael Mokwena, a small business owner in Garankuwa, north of Pretoria, told SAnews he hopes the government will make it easier to small business people to access loans from banks.
“We small business owners find it hard to access loans to expand our businesses. The laws and the requirements make it difficult for us to access funds,” Mokwena said.
Speaking ahead of the Budget which the Minister will table at 2pm, Mokwena said government must set aside funds to boost small businesses in the townships.
“Township businesses are playing a big role in the country’s economy and they are playing a role in job creation. We can’t all get employed. Some of us must create job opportunities for others. For that to happen, we need support from government. We need funding so we can play an active role in growing our economy,” Mokwena explained on Wednesday.
Meanwhile, Elvis Montoedi from Hamanskraal, told SAnews that government must create more job opportunities for young graduates and importantly, government must prioritise funding for students.
“Government must set aside more money for education. It is sad to see some young people being unable to continue with their studies because of lack of funding. Government must also assist with job placement for those who have completed their studies,” Montoedi who is a final year Bachelor of Commerce (BCom) student at the University of South Africa (UNISA) said.
Godongwana’s Budget Speech will provide a detailed plan for 2025 spending, including proposals for revenue collection to help fund the government’s planned interventions and commitments.
READ | All eyes on the Budget: Godongwana to chart SA’s financial future
The Budget Speech, among other things, aims to balance economic growth and support for the vulnerable in our society, despite limited resources.
READ | Minister of Finance to deliver 2025 Budget Speech
This as senior lecturer at UNISA Ndou Eliphas said he expects the Minister will deliver a budget that caters for the poor - to infuse business optimism; to send a message to the public that government is working on raising economic growth and that government wants to eradicate poverty and inequality.
“The Minister of Finance should focus more on raising economic growth, [the] implementations of reforms that support economic growth, explaining how to reduce the debt servicing costs and stabilising debt to GDP ratio,” said Ndou.
Ndou is of the view that the Minister will deliver a budget that will give an optimistic outlook at a time of global economic uncertainty.
For those eager to follow the financial roadmap firsthand, the Budget Speech will be broadcast live on Parliament TV (DStv Channel 408) and streamed across Parliament’s digital platforms. South Africans can tune in to see how the numbers stack up and what lies ahead for the economy in 2025, across various TV channels and Government platforms, including on www.SAnews.gov.za .
Wednesday’s budget will be the first budget to be tabled under the Government of National Unity (GNU). - SAnews.gov.za
