South Africa - 06

South Africa: ANC Policy Conference Signals Deepening Divisions to Come

While some radical policy interventions were raised at the ANC policy conference, such as nationalizing Sasol, they did not gain significant support. However, there were several debates that will negatively affect investor sentiment towards South Africa. These include a proposal to nationalize the South African Reserve Bank, which is coming under media attack for lacking flexibility in monetary policy; a proposal to accelerate land reform through expropriation without compensation; and support for the higher black ownership target announced in the recent revisions to the Mining Charter.

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