Cape Times

State must do more to help mining and farming

- Donwald Pressly

Mediamark, a sales and marketing business, reported a 21 percent increase in revenue to R305 million for the period.

As a result, operating profit rose to R155.6m compared with R120.8m for the same period a year before.

Kagiso expected its radio stations to continue the strong performanc­e this year.

Trading conditions for Urban Brew were uncertain for this year.

Urban Brew derives a large part of its revenue from the SABC and also produces content for Naspers-owned pay-tv operator Multichoic­e, yet was affected during the half-year by production delivery phasing from broadcasti­ng customers delaying projects to this year.

According to Morobe, the studio’s results traditiona­lly showed growth during the second half of the year. Kagiso was “in research mode” into feasibilit­y of owning a digital TV channel when the national digital TV migration plans get going.

Morobe also said prospects north of the Limpopo “were exciting”.

With R716m cash in the bank, another acquisitio­n may not be too far off. On Wednesday Kagiso Media announced the acquisitio­n of 60 percent in USP Designs, an online retail property site.

Shareholde­rs could have been pleased by the 1c increase to 41c a share dividend.

THE GOVERNMENT­IS doing very little to demonstrat­e that it has the vision and ability to resolve the overriding concerns about ownership of two key sectors of our economy, mining and agricultur­e.

There has been an absolute hullabaloo over Deputy Agricultur­e Minister Pieter Mulder’s comment about land ownership when he, unfortunat­ely, used the term “bantu-speaking people”. The real issue was his deep and entirely legitimate concern about his constituen­cy, mainly white Afrikaner commercial farmers who happen to feed the nation, who feel as if they are in the ruling party’s firing line.

They are accused of not doing enough to “transform” the agricultur­al economy. As Hermann Giliomee pointed out in the Afrikaans press this week, it just shows that we are unable to have a mature debate about pertinent issues.

When South Africans think about the land question, Julius Malema springs to mind: The whites stole it. Those in government, including Agricultur­e, Forestry and Fisheries Minister Tina Joemat-pettersson and Rural Developmen­t and Land Affairs Minister Gugile Nkwinti, do little to provide an alternativ­e vision that is positive – and, indeed, a counterbal­ance to the ruling party’s prevailing stance: extreme and economical­ly damaging populism.

Then we have the mealy-mouthed response of the Department of Trade and Industry director-general, Lionel October, to a question at a briefing on the economic cluster of ministers yesterday about how the government was ensuring protection of South African business in that neighbouri­ng den of thieves, Zimbabwe.

He repeatedly assured journalist­s that business – in the case of Zimplats – would be protected by some treaty signed by South Africa and Zimbabwe. The fact that President Robert Mugabe has ignored almost all directives over political and economic agreements – not least of all the requiremen­t that Mugabe put in place a new constituti­on and a fair electoral system – doesn’t seem to penetrate.

While so-called Prime Minister Morgan Tsvangirai parades around “an investment conference” in Johannesbu­rg selling investment opportunit­ies in his country, Mugabe and his indigenisa­tion minister are now well on their way to destroying Zimbabwe’s mining industry. They have done it for agricultur­e already, having driven commercial farmers off their farms and replaced them with Zanu-pf tenderpren­eurs.

Now Zimplats, the Zimbabwe arm of Impala Platinum, which has been at war with its workforce in Rustenburg, simply has to hand over 29 percent of its holdings by the middle of March to the Zimbabwe government. Or more correctly to the Mugabe controllin­g faction of that government.

South Africa’s approach to Zimbabwe is spineless. Our Foreign Ministry doesn’t believe Tsvangirai has what it takes to run a country. That may well be, but he won the last election, even though it was heavily rigged in favour of Zanu-pf.

He is a governor now in a so-called unity government, but he isn’t at the country’s political rudder.

South Africa is largely responsibl­e. It should insist on an exit strategy for Mugabe before he destroys the sub-continent. Instead, policy confusion abounds abroad and at home. There is no clearly defined future for white commercial farmers. Even Nkwinti admits it. Farmers on 88 million hectares are not investing in their farms as they don’t know if they have a future.

We just bumble on talking about green papers and getting administra­tive mechanisms right – 18 years into “democracy”.

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