There was a regression by national and provincial departments in the payment of invoices to suppliers within the stipulated 30-day period, both in terms of number and value, in the year to end-March compared to 2021, despite the Treasury’s concerted efforts to ensure compliance with its regulations.
Billions of rand are involved even though prompt payment of invoices is critical for small and medium-sized enterprises (SMMEs). Late payment negatively affects their cash flow and financial sustainability and can lead to their demise, contributing to increased unemployment. It’s a matter that President Cyril Ramaphosa has taken up...
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