JOHANNESBURG — President Cyril Ramaphosa has officially signed three significant bills into law: the National Land Transport Amendment Bill, the Economic Regulation of Transport Bill, and the Municipal Fiscal Powers and Functions Amendment Bill. These legislative measures are expected to have wide-ranging impacts on South Africa's transport sector and municipal financial management.

According to South African Government News Agency, the National Land Transport Amendment Bill, which initially reached the President's desk in 2020, was sent back to the National Assembly for further consideration before being finalized. The revised bill updates the National Land Transport Act of 2009 by refining definitions, incorporating non-motorized and accessible transport, and broadening the powers of provinces and municipalities to enter contracts for public transport services. It also extends the powers of the Minister to implement regulations and safety measures.

The Economic Regulation of Transport Bill introduces a framework aimed at fostering economic growth and improving the efficiency of the transport sector. It establishes a Transport Economic Regulator tasked with regulating prices, investigating sector complaints, and monitoring compliance. The bill also consolidates the economic oversight of the transport industry into a single regulatory body.

Meanwhile, the Municipal Fiscal Powers and Functions Amendment Bill is designed to enhance the financial governance of municipalities by regulating their ability to levy development charges. This includes setting up a mechanism for imposing levies on land development applications as prerequisites for their approval, thus empowering municipalities to introduce taxes, levies, and duties as permitted by national legislation.

These legislative advancements signify a significant step in modernizing critical aspects of South Africa's legislative framework to support economic development and streamline regulatory processes across various sectors.