The ruling ANC has an illustrious career in producing policy proposals that never see the light of day. Occasionally, some proposals are implemented half-heartedly, resulting in no meaningful impact being achieved by them.
I was reminded of the ANC’s lacklustre track record in implementing its policies when the political party released a 51-page policy document on 10 July, which spelled out proposals aimed at kickstarting the Covid-19-battered South African economy.
Interestingly, the document has a page dedicated to proposed measures that could be undertaken to boost production and investment in the ailing mining sector.
However, the page does not mention anything about the African Exploration Mining and Finance Corporation (AEMFC), the state-owned mining company established in 2011 with the intention to develop strategic minerals with private investors in order to supply them as feedstock to local manufacturers at competitive or discounted prices.
This intervention was necessary to drive the beneficiation of SA’s raw materials to help the country make headway in industrial export markets.
In February 2012, the ANC released a research report that recommended that the state-owned mining company (SMC) be used as the main vehicle for increasing government participation in mining, whereby the SMC would hold exploration rights to minerals by having the first sight of all new state-financed geo-data.
هذه القصة مأخوذة من طبعة 13 August 2020 من Finweek English.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة 13 August 2020 من Finweek English.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
THE HEALTH OF SA'S MEDICAL SCHEMES
As the Covid-19 pandemic abates, finweek takes a look at the financial performance of some of the largest players.
The effect of Gilbertson's departure
With Ntsimbintle Holdings now the major shareholder of Jupiter Mines, it could change SA’s manganese industry.
Making money from music
Why investors are increasingly drawn to the music industry.
Conviction is key
Sandy Rheeder plays a critical role in Mukuru’s mission to open up financial services to the emerging consumer market in Africa through tailor-made technology solutions and platforms.
The post-pandemic toolkit
How CFOs can use technology to support growth.
Big city living exodus
Mini cities like Waterfall City and Steyn City are redefining city-style apartment living.
Big compact, big value
Handsome, with a hefty level of standard specification, the roomy Haval Jolion compact crossover is a great value proposition.
On barriers to entry
There are various ways in which a company or sector can achieve competitive dominance. They usually make for good investments.
Fear and greed in one index
To buck the trend, when markets are hot or cold, is a tough thing to do. However, it can deliver solid returns.
Africa's largest data centre facility coming soon
Vantage Data Centers plans to invest over R15bn for its first African data centre facility in Attacq’s Waterfall City.
