Finance minister Tito Mboweni will have the difficult task of coming up with a budget to save South Africa’s economy. But tension has already started last week when South Africa Reserve Bank governor, Lesetja Kganyago announced its resistance to finance the growing budget deficit. On top of this the South African government has told asset managers and banks that they need R1.5 trillion from over the next decade for infrastructure. Jason Lightfoot, Portfolio Manager for Futuregrowth Infrastructure & Development Bond Fund joins CNBC Africa for more.
Futuregrowth claims the JSE has backtracked on previous agreements made between the parties when it comes to bond market reforms. CNBC Africa spoke to Olga Constantatos, Futuregrowth's head of credit for more.