Fourteen national departments and their entities have failed to pay a total of R160 million to 1662 suppliers within the 30-day limit prescribed by the Public Finance Management Act (PFMA)
Overdue payments place enormous pressure on the cash flow management systems of these businesses and can result in them defaulting in the payment of their own creditors. In some cases businesses, like listed company Sanyati, have been forced to close because of late payment.
...
AllAfrica Subscription Content
You must be an allAfrica.com subscriber for full access to certain content.
You have selected an article from the AllAfrica archive, which requires a subscription. You can subscribe by visiting our subscription page. Or for more information about becoming a subscriber, you can read our subscription and contribution overview.
For information about our premium subscription services:
You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page »
Already a subscriber? Sign in for full access to article