Godongwana talks down “de-dollarisation”; China donates millions to help end load shedding; Transnet is looking at another handout; and government steps up war against construction mafias.
Finance Minister Enoch Godongwana says it is premature for South Africa to enter the discourse about de-dollarisation and creating an alternative to the cross-border payments system Swift. Godongwana underlined that South Africa’s trade is still largely skewed towards the West, and the country needs to be cautious. He noted that 75% of South Africa’s foreign liabilities are currently linked to the US and Europe.
[ The New Development Bank , founded by the BRICS bloc of nations, is considering granting an R18 billion loan to Transnet to upgrade the utility’s locomotives and help its rail corridors run at full capacity. The bank aims to complete the transaction by the end of the year to expand its $5.6 billion portfolio in South Africa.
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