The Presidency is countering speculation that BHP Billiton’s bid to acquire Anglo-American assets outside South Africa reflects hesitancy to invest in the country because of the ANC government’s economic policies.Vincent Magwenya, spokesperson for the Presidency, certain analysts and media outlets have characterised recent market activity as a lack of confidence in South Africa,” stated Magwenya during a media briefing on 29 April.
The proposal required Anglo American to conduct two separate demergers, transferring its shareholding in Anglo American Platinum Limited and Kumba Iron Ore Limited to Anglo American shareholders. Magwenya dismissed assertions that omitting South African assets from the merger deal signalled a lack of confidence in the country’s policies, which might deter investors.