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Companies doing business with government are getting paid faster

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The National Treasury has recorded an improvement in the payment of invoices by the government to service providers within 30 days in the 2021/22 financial year.

The number of invoices paid after 30 days by national and provincial departments in the 2021/2022 financial year amounted to 401,691 invoices with a rand value of R33.7bn.

“There was a 63% improvement in the number of invoices older than 30 days and not paid at the end of the 2021/2022 financial year, which amounted to 134 invoices to the rand value of R5m when compared to 358 invoices to the rand value of R426m reported at the end of the 2020/2021 financial year,” the Treasury said on Monday.

 

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