Jeremy’s Weekly Recap: Analyzing the Effects of a Misinformation Campaign in South Australia

This week on Moneyweb@Midday, we devoted considerable attention to Finance Minister Enoch Godongwana’s sudden reversal of the VAT increase announced just days before it was scheduled to take effect.

This decision has raised significant concerns about South Africa’s fiscal strategy and credibility. Tax expert Thomas Lobban pointed out that the reasons behind this unexpected change remain ambiguous—whether it was a political strategy or a practical decision—but it has certainly disrupted operations for both businesses and consumers.

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The legal implications are complex, particularly since the VAT increase had already passed through the legislative process, and the reversal aligns with a court ruling questioning the increase’s legality under Section 74 of the VAT Act. Companies have been compelled to quickly adjust their systems, retract public communications, and deal with additional costs, while consumers must remain alert to avoid being overcharged due to outdated pricing structures.

The immediate concern is how the government will manage the resulting revenue shortfall, estimated to be between R15 billion and R75 billion, without resorting to further tax hikes.

Lobban believes increases in personal income tax are unlikely, but inflationary pressures and stagnant thresholds could lead to higher effective tax burdens due to bracket creep.

SARS now faces the difficult task of enforcing stricter audits while maintaining public trust.

This maneuver may suggest internal strife and early difficulties within the new Government of National Unity, damaging confidence in the Treasury’s commitment to a stable, rules-based policy framework—and potentially unsettling investors who are already worried about South Africa’s unstable fiscal trajectory.

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Following this, we explored a thorough investigation conducted by Kyle Cowan from Media24, revealing that a 46-year-old guesthouse owner, Sebastian Jooste, known online as “Twatterbaas,” is the orchestrator of a widespread disinformation campaign.

Under the facade of being a conservative truth-teller, Jooste has capitalized on fears surrounding farm attacks and white Afrikaner identity politics to amass a large following, gaining endorsements from prominent figures like Elon Musk and Donald Trump.

Read:
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His narratives have penetrated right-wing American circles, spreading false information about South Africa’s land policies and amplifying fears of white genocide—messaging that has influenced international perceptions and may have hardened US attitudes towards South Africa, especially in relation to trade agreements like the African Growth and Opportunity Act (AGOA).

During our discussion, Cowan warned that this weaponized misinformation poses significant social and economic risks, criticizing platforms like X for allowing its spread under the guise of free speech.

He also highlighted the troubling trend of exploiting unresolved traumas—particularly regarding land reform within Afrikaans identity politics—to gain influence and financial rewards online.

Despite the gravity of these revelations, there has been no official response from South African authorities or human rights organizations, and Jooste has yet to face any legal repercussions, although he has threatened to take legal action against the investigation.

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