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Plans for free higher education on track – Minister

2018/01/22 09:50:51 AM

Finance Minister Malusi Gigaba said last week that Treasury was making good headway in finding a way to fund free higher education

Fin24
19 January 2018 University World News Global Edition Issue 489

Finance Minister Malusi Gigaba said last week that Treasury was making good headway in finding a way to fund free higher education and would announce the plan during the Budget next month, write Yolandi Groenewald and Alex Mitchley for Fin24.

President Jacob Zuma announced last month at the ANC’s elective conference that the government would grant free higher education to poor and working-class students from households with a combined annual income of R350,000 (US$28,700).

But he didn’t provide details of how it would be funded and there was wide speculation that he made the announcement without properly consulting the treasury. Questions have been raised on how South Africa would fund this as it struggles with slow growth and a tax shortfall. Zuma’s announcement also caused financial jitters on the market, amid fears that he was using populism to save himself, with no money available to fund the measure.
Full report on Fin24 site