South Africa’s public finances remain under intense scrutiny as government balances rising debt costs with the need to invest in economic growth. With the country spending more than R1bn a day servicing debt, Treasury is tightening fiscal discipline while seeking funding for critical infrastructure projects, including a proposed R25bn World Bank loan. At the same time, Moody’s has upgraded South Africa’s credit outlook to positive, citing progress on structural reforms and improving fiscal performance, though the country remains below investment grade. The Treasury has also taken a firmer stance on governance, withholding funds from underperforming municipalities and responding to leadership challenges at the Public Investment Corporation (PIC). Business Day TV spoke to deputy finance minister Ashor Sarupen to find out more.