Question NW3109 to the Minister of International Relations and Cooperation
06 October 2023 - NW3109
Hlengwa, Mr M to ask the Minister of International Relations and Cooperation
With reference to the reported R500 million in revenue that her department will generate through the sales of various properties across the globe, (a) what total amount will be lost through commissions and taxes related to the sales and (b) how does her department plan to spend the remaining money from the sales?
Reply:
(a) The process for the disposal of some of the identified superfluous properties is currently at the approval stage, whilst others are at an advertisement stage. The total amount for commissions and taxes will only be determined at conveyancing stage and when sales have been successfully concluded by estate agents.
(b) Subject to approvals by National Treasury, the generated revenue will be used by the Department to fund new acquisitions/constructions and major refurbishments, using the National Treasury Self-Financing Mechanism