Nedbank Chair Urges Fast S. Africa Budget Deal for Certainty

The lack of consensus on South Africa’s budget has thrown the process into “disarray,” Nedbank Group Ltd. Chairman Daniel Mminele said, urging lawmakers to patch up differences to ensure policy certainty.

Parties within and outside the nation’s coalition government say they won’t support plans to raise value-added tax by 50 basis points in the coming fiscal year and next, as Finance Minister Enoch Godongwana of the African National Congress announced Wednesday.