When Cyril Ramaphosa was elected deputy president of the governing African National Congress last month his re-emergence into the top echelons of South Africa’s politics was widely welcomed.
Yet as Ramaphosa has settled into his new job, the old rifts between public and private sectors have rapidly resurfaced, laced with bellicose language. Have we enetered a new period of ANC/corporate mistrust? Continue reading »
The tricky beast of nationalisation is on the agenda at the ANC’s Mangaung conference, where party members are meeting to elect leaders and discuss key decisions on critical policies.
A rejection of outright nationalisation has been set out, but analysts say that the looming alternative of higher taxation is a bitter a pill to swallow for investors and the country’s struggling mining industry. Continue reading »
To the frustration of the mining houses operating in South Africa – including many of the world’s largest – a debate about the nationalisation of the country’s mines has ebbed and flowed, but never quite died.
This is in spite of the fact that a number of top government officials, from President Jacob Zuma down, previously insisting it was not the policy of either the government or the governing African National Congress. Continue reading »
South African corporates are feeling the double whammy of policy uncertainty at home as the African National Congress gears up for a key conference this month, and the eurozone crisis weighing heavily on manufacturers and general sentiment.
A report on Thursday from the South African Chamber of Commerce described the situation as “Harsh Economic Realities” as it released data that showed business confidence in Africa’s largest economy had hit a 10-year low. Continue reading »