business

Jan. 13, 2022

NEO SENOKO

2 min read

Govt resumes salary advances

Govt resumes salary advances

Minister of Communications, Science and Technology, Tsoinyane Rapapa

Story highlights

  • The structure, which was first introduced in 2006, was dropped just a few years after its inception
  • Cabinet approved resumption of the strategy which is expected to ease financial burden on civil servants

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THE Government has agreed to give its employees a two-month salary advance, effective from February, Tsuinyane Rapapa, the Minister of Communications, Science and Technology has said.

The structure, which was first introduced in 2006, was dropped just a few years after its inception.  

Mr Rapapa said recently that the Cabinet approved the resumption of the strategy which is expected to ease financial burden on the side of civil servants.

“My expectation is that going forward, civil servants will enjoy this opportunity and benefit in a quest to ensure progress in their lives,” the minister said in a recent media briefing.

Charged at an interest rate of 10 percent plus 0.75 percent administration fee, civil servants have been requested to produce a pay slip from the previous month ahead of an advance request being approved.

They should also have been permanently employed for a minimum of two years.

Eligibility is further dependent on the official net pay of an applicant, which should not be less than 20 percent after all deductions would have been made.

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It means that an employee who earns M5 000 after tax, should be left with at least M1 000 after other deductions before the loan can be approved.

A bank statement is also required while those above 50 years of age should produce a letter of employment from their respective human resource officers to confirm that they are still on duty.

The short-term advance will be payable within a 12-month period.

Principal Secretaries whose term of office is one year or more are also eligible to apply for the advance.

 

 

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