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FinMin Godongwana to Provide Clarity on R11.4bn World Bank Loan

SOUTH AFRICA

LOCAL NEWS

  • FinMin Godongwana expected to provide clarity on SA’s R11.4bn World Bank loan today and how the fuds will be utilised and serviced.
    • The expected repayment term is 13 years and used to support SA’s post-Covid-19 recovery. Opposition parties are pressing the ANC for details and warning against corruption
  • Corporate income tax rises R94bn in December owing to strong profits in the mining sector, accounting for a R252bn rise by Dec 2021 vs R202bn for the full year in 2020. Personal income tax brought in R50bn more than 2020 & R3bn more in VAT.
    • SA’s budget deficit is forecast to be lower than expected, but economists warn risks from wage agreements and the extension of income grants or the BIG remain
  • Telecoms regulator ICASA receives 6 applications for the much-anticipated March spectrum auction from MTN, Vodacom, Telkom, Rain, Cell C & Liquid intelligent Technologies.
    • ICASA says this is a critical step towards the auction, but question marks remain over Telkom’s legal bid to stop the process.

Data:

  • 0900GMT: Jan ABSA Manufacturing PMI, 54.1 prior
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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