South African Finance Minister Tito Mboweni will deliver his budget to parliament on Wednesday [Sumaya Hisham/Reuters]

South Africa’s Finance Minister Tito Mboweni faces a balancing act with his maiden budget if he is to reassure investors in the country’s troubled public electricity company without alienating union allies ahead of national elections.

He is under pressure to bail out the state power utility Eskom – along with its $30bn mountain of debt – which

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