Finance minister Trevor Manuel unveiled plans to combat the power crisis resulting in severe economic and industry losses after a long period of rapid growth.

Mr Manuel pledged a $7.68bn investment over three years in South Africa’s state-run energy company, Eskom, to improve power generation capacity.

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The budget also announced infrastructure investment in railways, harbours and ports to improve the efficiency of the country’s logistics chain and decrease the cost of doing business in South Africa, as well as a 1% reduction in corporation tax.

For a full interview with South Africa’s deputy finance minister, see page 54.