Cal­cu­la­tions po­lit­i­cal and fi­nan­cial

The Africa Report - - BUSINESS -

Cyn­i­cal ob­servers sus­pect that there are other dy­nam­ics at play in the re­lease of this new set of reg­u­la­tions. Zwane re­ferred to the char­ter as “an in­stru­ment for rad­i­cal eco­nomic trans­for­ma­tion”. That is the lan­guage of the Eco­nomic Free­dom Front, whose re­peated calls for poor, black South Africans to get a big­ger slice of the rich, white-owned min­ing sec­tor has won them many votes, push­ing the gov­ern­ing African Na­tional Con­gress out in sev­eral lo­cal­i­ties in re­cent mu­nic­i­pal elec­tions. And in a scathing ed­i­to­rial lo­cal pa­per Busi­ness Day ar­gues it is not just po­lit­i­cal gains that are be­ing sought: “It’s not clear who in­spired some of the new pro­vi­sions, and hard not to won­der if some are not a li­cence for plun­der by Gupta-linked Zwane and his team, via the new Min­ing Trans­for­ma­tion and Devel­op­ment Agency, which will re­port to the min­is­ter.”

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