Yes and No
Yes. This is because we have come to know the ANCYL as prophets of things to come. They spoke about the recalling of President Mbeki and President Mbeki was recalled, they spoke about the dismissal of the SAA CEO and that happened and, more recently, they have been shouting about the transformation of the judiciary and that as I write this column has taken priority.
So we know that the ANCYL is militant and may indeed give an indication of things to come.
No, because I personally do not know the reasons or objectives of nationalization when, in fact, there is talk to privatize some of the state owned enterprises.
The government is yet to show its Best Operating Practice when it comes to business success. If anything right now, state owned enterprises seem to be unprofitable and heavily dependent on government for sustainability - we do not want that for our mines. Instead, what we should do is analyse in great detail the value chain of how our minerals are transformed to the final product and from that indentify areas where governments’ influence can be increased. In that way the government will remain in touch with the process including the beneficiation of our minerals which undoubtedly will lead to investments in technology, create skills for our people and of course create and retain jobs. This call might/will send out jitters to the market immaturely and may negatively affect Foreign Direct Investment in the mining sector.
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