South Africa’s latest budget speech was delivered from parliament today, 24 February 2021, by Finance Minister, Tito Mboweni. Given the global impact of Covid-19 and the country’s already weak economy, government are looking for even more ways to recoup money, reduce expenditure and hopefully shed light on a seemingly dark future for our country. Overall, a seemingly conservative approach has been taken to generate further income while still being sensitive to already overstretched South African citizens. See below the highlights of this year’s budget speech in pictures showing a snapshot of changes and the impact thereof. For more, read the detailed breakdown that our Private Wealth Managers have compiled with their insights on how the budget affects you here. Access the full budget speech detailing government’s plans, estimates and proposals for the next fiscal.