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FinMin Godongwana says R73.5bn ANC Project Wishlist Comes With Trade-Offs

SOUTH AFRICA

LOCAL NEWS

  • FinMin Godongwana warns ANC leader that its project wishlist could cost R73.5bn and funding it would require difficult trade-offs.
    • The R10bn state bank, R19.6bn increase for state workers, R4.6bn for unpaid e-tolls, R8.2bn for land bank & Denel bailouts, R15bn student debt , R16bn municipal bailouts & R38.5bn pandemic/rioting relief may require trimming of state employees or reprioritisation of budgets from elsewhere.
    • Also called on Ramaphosa to implement significant reforms before the Feb 2022 SONA.
  • Suspended ANC SG Magashule facing cash crunch as legal costs mount following the dismissal of his appeal to have his suspension overturned.
    • Magashule currently sponsors students abroad in turkey who say they have yet to receive residence fees with R13m currently unpaid. Magashule is likely to approach the SCA to appeal but will face more corruption proceedings in October
  • Public protector Mkhwebane accuses Ramaphosa of intimidation in response to perjury claims lodged against her. Ramaphosa appealed for the ConCourt refer her to the prosecuting authority given her multiple charges of perjury amid efforts to have er removed from office
  • ANC calls for calm as tensions among members heighten over the nomination process for the local general elections after protesters said their preferred choices for councillors were ignored
  • SA reports 2,640 new covid cases & 125 deaths
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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