With a ‘noisy’ election expected later this year, markets are hoping for some continuity in government.
With question marks floating over the outcome of the 2024 national election, Bank of America says it hopes that Finance Minister Enoch Godongwana will retain his position when the new government is sworn in.
Despite the ANC’s potential need to boost votes, the 2024 Budget that was presented by Godongwana last week looked beyond elections pushed aside suggestions of populist spending before voting., the minister announced no new spending ahead of the election and significant tax increases, with the aim of stabilising debt.
Transnet has also received a R47 billion guarantee in 2023/24 from Treasury, conditional on the implementation of its comprehensive turnaround plan.