The Economic Freedom Fighters (EFF) have called for an immediate overhaul of South Africa’s National Treasury leadership, accusing the institution of perpetuating economic inequalities. The party issued a 30-day ultimatum for Treasury to respond to its demands, which include the removal of Finance Minister Enoch Godongwana and his deputies, as well as structural changes to how the national budget is managed.
March to National Treasury and Key Demands
Ahead of Finance Minister Godongwana’s budget speech on Wednesday, EFF leader Julius Malema led a march to National Treasury’s offices in Pretoria, warning against further austerity measures. The party argues that Treasury’s fiscal policies disproportionately harm the poor while protecting corporate and elite interests.
Among the EFF’s key demands are:
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A Change in Treasury Leadership – The party insists that Minister Godongwana and his deputies must be replaced, claiming they uphold policies that worsen economic disparities.
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Constitutional Amendments for Budget Control – The EFF wants Parliament, rather than Treasury, to have final authority over budget allocations, arguing that elected officials should decide spending priorities while Treasury merely releases funds.
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Increased Social Grants – The party opposes any cuts to social grants, demanding that recent increases—such as the R130 raise for old-age pensions and R30 for child welfare grants—remain intact.
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Higher Taxes on Wealth and Corporations – To fund social programs without austerity, the EFF proposes raising wealth and corporate taxes, claiming Treasury can generate revenue without burdening the poor.
Criticism of Ramaphosa’s US Visit
The EFF also criticized President Cyril Ramaphosa for traveling to the United States to meet with former President Donald Trump amid South Africa’s fiscal crisis. Malema argued that Ramaphosa should prioritize domestic economic stability, especially as the country prepares for its third budget attempt after two previous failures.
Challenges Ahead
National Treasury has warned that maintaining social grants without austerity measures will be difficult, particularly after a proposed 0.5% tax hike was scrapped. The EFF, however, insists that alternative revenue sources exist if the government taxes the wealthy more aggressively.
With the budget announcement looming and Treasury under pressure, the EFF’s demands set the stage for a contentious debate over South Africa’s economic future. Whether the government will heed these calls—or stick to its current fiscal path—remains to be seen.
As the political and economic stakes rise, all eyes will be on Wednesday’s budget speech and whether it addresses the growing discontent over inequality and austerity.
