President Cyril Ramaphosa has got the wheels of justice moving against the corrupt, with at least 100 arrests in recent weeks – including one of the ANC’s most powerful members, its secretary-general Ace Magashule. Equally important in restoring business confidence and investor sentiment in the country is changing Black Economic Empowerment (BEE) legislation.
This has been underscored by a row that has erupted between mining giant Sibanye-Stillwater’s boss Neal Froneman and Mineral Resources and Energy Minister Gwede Mantashe. After Froneman told BizNews founder and leading business news broadcaster Alec Hogg, in a hard-hitting Rational Radio interview, that SA is a poor destination for global capital, Mantashe retaliated at a mining conference, accusing Sibanye of ‘stealing’ BEE credentials inherited from Gold Fields.
Listen to the BizRadio interview with Froneman here on why SA is not investor-friendly and the ANC ideology is not conducive to capitalism, on the Inside Investing podcast. Catch up on analysis of the battle that has erupted between Mantashe and Froneman, here at BizNews.com.
PS: Global online high school company Valenture has a special webinar with BizNews on Tuesday at noon. Your chance to ask everything you want to know about this innovative approach to learning and teaching that has opened doors for SA pupils with aspirations to study at top universities around the world. Free, but you must register: https://attendee.gotowebinar.com/register/4850212282925182219.
