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Enoch Godongwana Recoils From $5.2 Billion ANC Spree

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Finance Minister, Enoch Godongwana warned leaders of the ruling African National Congress that the party’s project wish list could cost 73.5 billion rand ($5.2 billion) and funding it will require difficult trade offs.

According to the presentation, big-ticket items that would place pressure on state finances included spending 10 billion rand on a state bank, Godongwana, who also serves as the ANC’s head of economic transformation, said in a presentation that was delivered to a Sept. 4-6 party meeting. The government will also have to come up with 19.6 billion rand for increases for state workers, possibly by cutting jobs, and need 4.6 billion rand to forgive unpaid highway tolls in the central Gauteng province, he said.

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