14 hours ago
Debt servicing outpaces investment in SA
JOHANNESBURG - South Africa's fiscal situation is a cause for concern, with debt-service costs rapidly outpacing crucial investments.
READ: Over 700,000 people under debt review
The 2023/24 budget saw a R15.7 billion increase in debt-service costs, signaling a worrying trend.
It is projected that debt interest rates are likely to reach 16-point-five percent in 2025/26.
Investec warns that this could drive critical investments out of the country. Investec's Corporate Social Investment (CSI) division head Setlogane Manchidi discussed this with eNCA.
