For Creamer Media in Johannesburg, I’m Sane Dhlamini.

Making headline: Mboweni unveils less steep path to consolidation while continuing to raise debt-crisis alarm, Bongani Bongo granted R10 000 bail in fraud and corruption case and, Tanzania president Magufuli seeks second term as polls open

Mboweni unveils less steep path to consolidation while continuing to raise debt-crisis alarm

Finance Minister Tito Mboweni unveiled a significantly looser fiscal consolidation roadmap in the Medium-Term Budget Policy Statement he presented to lawmakers on Wednesday when compared with the framework provided in his June Supplementary Budget.

Mboweni reiterated his message that “deep and wide” expenditure cuts were still required if the country was to avoid a debt crisis.

Under the revised outlook, the debt-to-GDP ratio is expected to surge to 81.8% during the current fiscal year – a year in which the economy is now expected to contract by 7.8%, rather than the 7.2% fall forecast in June.

Bongani Bongo granted R10 000 bail in fraud and corruption case

ANC MP and chairperson of Parliament's Portfolio Committee on Home Affairs, Bongani Bongo, has been released on R10 000 bail by the Mbombela Magistrate's Court.

Bongo and 14 others appeared in court for fraud and corruption linked to a case that dates back to the time  when Bongo was an official in the Mpumalanga government.

Bongo also faces a separate corruption charge in the Cape Town Magistrate's Court.

Tanzania president Magufuli seeks second term as polls open

Tanzanians headed to the polls on Wednesday for presidential and parliamentary elections that President John Magufuli hopes will hand him another five-year term despite criticism from rights groups that the government has stifled political dissent.

Magufuli's main challengers include Tundu Lissu, who was shot 16 times in 2017, and former foreign minister Bernard Membe.

People turned out early to cast their ballots in Dar es Salaam on Wednesday morning.

That’s a roundup of news making headlines today

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