Inflation targeting is likely to be reviewed, because if South Africa's policymakers only use interest rates as the tool to fight inflation, the country is in for a nasty generational learning experience as the policy will not be removing the cause of inflation, said Chris Hart, chief economist from Investment Solutions.
Senior African National Congress leader Tokyo Sexwale has called on President Thabo Mbeki to explain his involvement in the controversial multibillion-rand arms deal, a media report said on Sunday. Sexwale made an impassioned plea to a hushed ANC national executive committee meeting on Friday for Mbeki "to take the ANC into his confidence".
"I have interviewed African National Congress deputy president Kgalema Motlanthe seven times between 1999 and 2008, and I have watched him change. Yes, he has been buffeted by the winds of neo-liberalism, but in my last interview with him, I see a far more forthright socialist emerging," writes Ebrahim Harvey.
South African Minister of Minerals and Energy Buyelwa Sonjica has confirmed that job losses at mines are unavoidable, the South African Broadcasting Corporation reported on Friday. Sonjica said this became apparent at Thursday's meeting with labour unions and the Chamber of Mines, but she would not disclose the number of job losses that will take place.
The African National Congress has ordered an audit of all empowerment deals and tenders that were received by its investment company, Chancellor House, media reports said on Sunday. Earlier this month, the <i>Mail & Guardian</i> reported that Chancellor House would exit two multibillion-rand contracts with Eskom.
Stripped of its polemical verbosity, Philip Dexter's article (January 25) simply argues that the electoral contest against Thabo Mbeki's leadership was just about personal power to pursue egoistic interests. The newly elected leadership will use its power to pursue these interests, including purging those who differed with them towards the national congress, writes David Masondo.
Finance Minister Trevor Manuel played his cards close to his chest on Wednesday when questioned about his future during a media conference before his delivery of the national budget in Parliament. "I have said in the past that I serve. I can't say what will happen," he said.
Finance Minister Trevor Manuel on Wednesday dismissed suggestions that recent political developments within the African National Congress (ANC) made the drafting of the 2008 budget difficult. "I never had any concerns on whether there will be difficulties in these areas," he said.
The goal posts for Finance Minister Trevor Manuel's spending plans in Wednesday's national budget were carefully placed last October when he revealed his medium-term expenditure framework. However, political change and the dramatic change in economic outlook caused by the electricity crisis have set the posts whirling.
<a href="http://www.mg.co.za/specialreport.aspx?area=ancconference_home"><img src="http://www.mg.co.za/ContentImages/327874/livefrompolo.gif" align=left border=0></a>Money, members, veterans and Jacob Zuma: at a press briefing on Tuesday afternoon at the African National Congress's (ANC) national conference in Polokwane, secretary general Kgalema Motlanthe discussed his organisational report, delivered two days before, as well as several other issues concerning the ruling party.
<a href="http://www.mg.co.za/specialreport.aspx?area=ancconference_home"><img src="http://www.mg.co.za/ContentImages/327874/livefrompolo.gif" align=left border=0></a>President Thabo Mbeki's team fought back after a first day of humiliation at the African National Congress's (ANC) 52nd national conference at Polokwane, holding an unprecedented rally at lunchtime on Monday. Jacob Zuma's people responded with an even bigger rally.