Recession will persist if politicians keep on fighting, Stephen Koseff says
There is so much political noise that no one is concentrating properly on the economy and what needs to be done to get it growing, the Investec CEO says
Infighting among political leaders instead of promoting business-friendly policies risks keeping SA mired in recession, according to Investec CEO Stephen Koseff. The ANC is being divided by corruption scandals surrounding President Jacob Zuma, his ties to the Gupta family and a contest for who will replace him as head of the party at the end of 2017. Government policies are also raising concern with Mineral Resources Minister Mosebenzi Zwane releasing the new Mining Charter in June, which is being challenged in court by the industry, and this week freezing the granting and renewing of mining rights. "There’s so much political noise out there, no one is concentrating properly on the economy and what needs to be done to get it growing," Koseff said in an interview in Johannesburg on Friday. The proposed mining charter "is something just at absolute loggerheads with a growing economy. You can’t say to the industry, ‘do XYZ’ and then expect them to still invest". Investec — which owns a...
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