South Africa’s instability scares away investors
Author: Adam Wakefield
A lack of policy stability in South Africa is making investors wary, ANC stalwart Mathews Phosa said on Tuesday.
In prepared notes for a speech at the Austrian Business Chamber AGM in Johannesburg, the former ANC treasurer general and Mpumalanga premier named four areas where such stability was lacking. These were:
— Inconsistencies in land reform and land ownership laws.
— BEE policies that are often challenged and inconsistent send messages to [the] investment community.
— Mining policies are costing the industry dearly, with investment now going elsewhere in Africa, such as Zambia, Mozambique and Angola, among others.
— Agricultural development policy, coupled with land reform, not been settled since 1994 is leading to reduced output.
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