Debt swapOn the same day as the arrest of Koko and his colleagues finance minister Enoch Godongwana delivered his medium-term budget in which he disclosed that the state was in the process of taking over between a third and two-thirds of Eskom's ballooning R400bn debt (AC Vol 63 No 21 Transport dispute puts brake on economy)...

Senior bankers expect Finance Minister Enoch Godongwana who is due to announce a medium-term budget policy statement on 26 October say they expect government spending plans to be based on 3% increases in public sector pay compared to current year-on-year inflation rates of about 8%...

Finance Minister Enoch Godongwana was spared from having to present a bleak budget in February thanks to a tax windfall from the surge in commodity prices (Dispatches 21/2/22 Calls on Finance Minister Godongwana to be more radical in this week's budget)...

Enoch holds the budgetary line In his first mid-term budget Finance Minister Enoch Godongwana calmed market nerves by holding firm on government spending cuts to reduce national debt and he linked social spending to investment and job creation...

The planned tax hike caused an outcry from business leaders and trade unions and was quickly shot down by new Finance Minister Enoch Godongwanar...

New Finance Minister Enoch Godongwana is a former head of the ANC's economics committee...

According to insiders Ramaphosa was supported by some key executive heavyweights including Mondli Gungubele a former deputy finance minister and Enoch Godongwana who heads the ANC's economic transformation committee...

Africa Confidential understands that the main backers of the plan are Finance Minister Mboweni and Enoch Godongwana head of the ANC's Economic Transformation Committee and chair of the Development Bank of Southern Africa...