How will Zuma use competition laws to de-concentrate SA’s economic ownership?

It went largely unnoticed, but President Jacob Zuma made one of his most significant policy pronouncements yet on economic redress in his recent State of the Nation Address.

Zuma revealed that the department of economic development will this year present an amendment to the Competition Act that seeks to dismantle cartels and monopolies in certain sectors of the economy as part of his administration’s “radical economic transformation” agenda.

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ESD can speed up development of black businesses

Of all the pillars of black economic empowerment, enterprise and supplier development (ESD) provides the best hope of launching thousands of marginalised black entrepreneurs into the upper echelons of the South African economy.

The idea behind ESD is to train black business owners to be competent in running their enterprises sustainably. Once this has been achieved, these businesses are plugged into the supply chains of large, white-controlled corporates to supply goods and services, thereby opening markets previously closed to them.

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If Trump’s “America First” policy hits China, Africa will feel the pinch

“Every decision on trade, on taxes, on immigration, on foreign affairs, will be made to benefit American workers and American families. We must protect our borders from the ravages of other countries making our products, stealing our companies, and destroying our jobs. Protection will lead to great prosperity and strength.”

With these unsettling words in his inauguration speech last month, U.S. President Donald Trump announced the arrival of the “America First” policy, an attempt by the world’s richest economy to reincarnate its manufacturing prowess by turning itself into an inward-looking fortress that protects its companies and workers from foreign economic competition.

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AFG unveils investment products to boost black wealth creation

African Financial Group (AFG), the financial services firm owned by surgeon-turned-businessman Dr Gil Mahlati, has launched a series of investment products that could hasten wealth accumulation for black South Africans, whose gains have been reversed since the global recession of 2009.

Dr Mahlati, who is the chairman of AFG, believes his investment solutions will give black economic empowerment (BEE) a much-needed boost, as the products are aimed at mobilising savings by black consumers and using the funds to invest in companies and projects that advance black wealth accumulation.

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Eastern Cape’s bold plan to industrialise and attract investors

During Thabo Mbeki’s tumultuous nine-year reign as South African president, tens of billions of rand in infrastructure and industrial investment poured into the Eastern Cape economy, as Mbeki attempted to slam the brakes on the province’s declining contribution to the country’s economy. The Eastern Cape’s contribution to GDP dropped to 7.6% in 2014 from 8.2% in 1995, but the province has managed to hang on to its spot as the fourth-biggest contributor to the national economy, behind Gauteng (34.3%), KwaZulu-Natal (16.1%), and the Western Cape (13.6%). 

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