The business organisation slammed Ramaphosa's reaction to the matter.Big business has criticised government's response to allegations that Russian forces received arms from South Africa last year.sent the rand crashing to a new record low of R19.47Business Unity South Africa said the immediate reaction to Brigety's allegations indicates how seriously the markets consider these allegations.
The AGOA agreement gives SA and other sub-Saharan African countries duty-free and quota-free access to the US market. This allegation also surfaced at a time when countries' AGOA eligibility will soon be up for review. "[Government's reaction] has actually disillusioned people. It either suggests that the president is out of touch with what's going on, or it speaks to them feeling guilty and trying to limit the implications," said director and chief economist at Econometrix, Azar Jammine.
At the PSG Conference in Sun City, political analyst Daniel Silke, said just the"purported neutrality" on Russia's invasion of Ukraine was already"very concerning". While the government preaches neutrality, SA was seen to be taking Russia's side.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BREAKING | Rand hits new record low amid Russia furore | BusinessOn Friday morning, the rand was in freefall, hitting a record R19.45/$ amid the South African arms-to-Russia scandal. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »
Rand hits worst level since 2020 | BusinessThe rand has slumped to its worst level since April 2020, reaching R18.81/$ earlier on Wednesday. Less than a year ago, it was trading below R15.30. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »
Japanese Investors Say They Want More Business With AfricaThere is growing interest in Japan by the government, parliamentarians, mega companies and startups to invest more in Africa. As a delegation from the African Development Bank Group led by President Dr Akinwumi Adesina visited Japan to showcase the enormous investment opportunities on the continent, the Prime Minister of Japan Fumio Kishida, was leading his country's charge with a tour of four countries, namely Egypt, Ghana, Kenya, and Mozambique. More on the AfDB AllAfrica page.
Source: allafrica - 🏆 1. / 99 Read more »
Shell wins legal case over 'one of the largest' oil spills in Nigerian history | BusinessBritain's highest court ruled Wednesday it was too late for people in Nigeria's Niger delta region to lodge pollution claims against energy giant Shell after a huge oil spill more than one decade ago. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »
Financial watchdog fines SA forex broker R100 000 | BusinessSA's financial services watchdog has fined forex broker JP Markets R100 000 for breaking regulations governing trade in over-the-counter derivatives. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »