Companies doing business with government are getting paid faster

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.

The number of invoices older than 30 days and not paid by national and provincial departments at the end of March amounted to 67,862 with a rand value of R6.1bn. “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.

“There was, however, a noticeable regression in the number of invoices paid after 30 days by national department and a regression in the number of invoices older than 30 days.”

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Companies doing business with government are getting paid fasterThe 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.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Here's how to grow your small businessVarious government programmes offer funding and guidance to help young people start or grow their businesses.
Source: SowetanLIVE - 🏆 13. / 63 Read more »

Desperate dad uses last R800 to start successful sandwich businessDesperate dad uses last R800 to start successful sandwich business 'When I get tired, I think to myself that I am not where I want to be yet, and I keep pushing,' says sandwich business owner Itumeleng. I have always hated Bitcoin and thought it was a scam until a friend referred me to Mike_Rosehart , I made my first withdrawal of R100,000 in 2 weeks thanks to Mike_Rosehart.
Source: TheSAnews - 🏆 25. / 59 Read more »