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R36 Billion Confirmed To Fund Sassa Srd R350 Grant Extension

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R36 Billion Confirmed To Fund Sassa Srd R350 Grant Extension

According to President Cyril Ramaphosa, the government will continue implementing the R350 grant. It has been revealed how much the government will have to spend to continue implementing the grant.

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R36 Billion Confirmed To Fund Sassa Srd R350 Grant Extension

A R33 billion grant will be granted to the Social Development department by Finance Minister Enoch Godongwna on behalf of the SRD grant, known as the R350 grant.

They explained, “R66 billion is allocated to Social Development over the medium term, with R36 billion to fund the extension of the Covid-19 social relief of distress grant until 31 March 2024.”

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SRD grant payments will still be paid by the government for foreseeable future, however, the government is exploring alternatives to provide alternative social protection to individuals currently receiving SRD grants.

According to Godongwana, Sassa will be allocated R400 million for its administration in 2023/24. Currently, the government is looking at alternative options to replace or complement the current grant in order to provide appropriate social protection for working-age persons.”

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The SRD grant was applied for by more than 13,5 million people in January. The monthly payment approval rate for these clients ranges between 7.4 million and 7.8 million.

During the past twelve months, the government spent less on SRD grants. As a result of improved means testing, the grant program was able to achieve this.

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At present, unemployed people, those with incomes under R624 per month, those between 18 and 59 years of age, and those not receiving any other government assistance qualify for the SRD grant. The Unemployment Insurance Fund (UIF) and the National Student Financial Aid Scheme (NSFAS) provide funding for this type of government assistance.

Beneficiaries of SRD grants will continue to receive R350. In addition, all other permanent grants will be increased in the coming year. 

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