BUSINESS REFLECTION: After the Bell: Russia, United Manganese of Kalahari and the ANC’s testicles

First, some history. For years, political parties resisted the publication of donations, for various reasons. The Democratic Alliance was worried that if donations by SA corporates were publicised, those corporates would be at risk of being negatively prejudiced by the government. And the ANC was worried that if donations by SA corporates were publicised, they would not be able to positively prejudice their corporate supporters.

If you thought the above was cynical, try this: I suspect that corporate funding for the ANC had, at this point, more or less dried up because of the slide into corruption. So, the ANC was more in favour of the legislation because it wanted to prevent the DA from getting too much support. Well, who knows. But anyway, the legislation was presented in 2018 and passed in 2021.

The ANC list is also pretty small, and it has really only two major donors: its own companies. And those are the Batho-Batho Trust, which is constituted mainly by the local business of the Dutch oil company Shell. And then there is the United Manganese of Kalahari , and therein lies a bit of a story.

Over the past 20 years or so, the SA manganese industry has been the one part of the metals spectrum which has absolutely flourished. There are now 22 operating manganese mines; 18 of which were established after 2006.This development has been largely invisible to South Africans because only four of those mines are part of listed entities – an extraordinary demonstration of the decoupling of SA’s mining industry from SA’s capital markets.

Absolutely makes sense .. i

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