SA business leaders are becoming frustrated with the pace of reform under President Cyril Ramaphosa. His cabinet choices and spending pledges haven’t helped.
Much of that rally was relief at seeing the end of Jacob Zuma’s nine-year tenure marked by corruption and few policy decisions. Since the end of the month Ramaphosa took power, the rand has declined 20% against the dollar. “Very tough decisions have to be taken. We have not yet seen any willingness to take those decisions. Time lines are short and pressures intense,” said Martin Kingston, executive chair of Rothschild & Co’s SA unit and vice-president of the country’s main business lobby. “As a country we want to have our cake and eat it, and everyone else’s cake.”While Ramaphosa vowed to save the struggling state power utility Eskom, he also promised bullet trains and a new city.
Ebrahim Patel, who’s economic development role was expanded to include trade and industry, had been criticised by some corporate leaders for intervening in the takeover of local retailer Massmart Holdings by US giant Wal-Mart to demand concessions.
What reforms?
He’s not even been in the country, how does he know what is happening!
Raise your hand if you're happy with R?
That’s easy to understand - there haven’t been any
'Of the 28 ministers Ramaphosa appointed, only six hadn’t served in cabinet before.' Everything you need to know about how well he is doing is captured in that one sentence.
They put him there through the R400ml donations. He must deliver on their investments
MXM!Whi So they think they are?
What reforms?
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