Tag: #budget2019 #budgetspeech2019 #budgetspeech
Moody’s is the only ratings agency to still have South Africa above junk status. Will it change its mind after Wednesday’s Budget? CNBC Africa spoke to Lucie Villa, Moody’s Lead Sovereign Analyst for South Africa to find out.
Top rated economist Gina Schoeman from Citi Global Markets rates the Budget 2019 speech that happened yesterday.
Eskom maybe getting a bailout but the risk of load shedding remains. An alternative in renewable energy could be available; CNBC Africa’s Kopano Gumbi is out in Johannesburg with Tim Frankish of SolarSaver, a solar energy company hoping to offer solutions.
Struggling power utility Eskom is set to receive a R69 billion bailout over three next years, Joining CNBC Africa for a discussion on this is Chris Yelland MD, EE Publishers and Marubini Raphulu CEO, Huisman.
Discussing the thought processes behind the 2019 Budget in the best interests of the economy, business and the ordinary South African, is Deputy Minister of Finance Mondli Gungubele, who spoke to CNBC Africa’ Fifi Peters from his office in Cape Town. Topics include the headline numbers, SOEs, unemployment, interest rates, and proposals as to what can sustain the country.
With the Rand falling to R14.36 at the start of Minister Tito Mboweni’s Budget Speech and then moving back into positive territory, Rashaad Tayob, Fund Manager at Abax Investments, joined Godfrey Mutizwa to talk about the reaction of the bond and currency markets to the poor headline numbers of the Budget.
This year’s budget is less about “give me some more” and more about “let’s transform the business to be more accountable” SAA’s CEO Vuyani Jarana told CNBC Africa’s Fifi Peters outside parliament today. He added that although there was no express allocation for SAA, the Budget did provide a framework to address the challenge of transforming SOEs.
Under the circumstances, Cas Coovadia, Managing Director of the Banking Association of South Africa, was happy with the Budget Speech today. He told CNBC Africa’s Fifi Peters it was important to put conditions for the utilisation of funds for SEOs, and to make public the details of the Presidential Task Team’s recommendations and how Eskom will be broken up into three, and how the funding will be linked to that. He also gave his opinion of the Budget as a whole and a potential ratings downgrade.
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