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Ramaphosa Talks Up State’s Role in Economy

SOUTH AFRICA
  • One of the five men accused of taking part in the robbery of President Ramaphosa’s farm in Limpopo has denied any involvement, according to the SA Sunday Times, claiming to have never heard of the event until two weeks ago – contradicting the claims of former spy agency boss Arthur Fraser. The ANC’s highest decision-making body meets today ahead of the policy conference in July, where this topic will likely remain a focus.
  • Speaking over the weekend, Ramaphosa said the state should take a more active role in the economy, with the President using the example of the car industry as a thriving sector thanks to government incentives (estimated at R6 – 20bln). The textiles and agriculture industries are seen targeted next.
  • The BER writes that the liquidation of Comair is to have a notable impact on domestic travel in the coming months, with the company previously being responsible for 40% of domestic capacity. The business failure has cost over 1,000 jobs but will also result in a spike in air ticket prices – at least in the near-term, according to Business Tech.
  • The lingering strike at Sibanye Stillwater’s gold mine appears to have been resolved, with the SA Sunday Times reporting that the long-awaited wage deal was signed in the early hours of Saturday, concluding a near three month strike at the site.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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