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In a recent speech to the Black Business Council in Durban, Finance Minister Malusi Gigaba argued that "we need to put in place policy and regulatory regimes which attract investment". He went on the say that weak policy deterred investment. A few days earlier, his adviser, Prof Chris Malikane, is reported to have told a meeting in Johannesburg that the Constitution should be altered in order to open the way to nationalising various sectors of the economy. He was quoted in a City Press news report as saying: "It’s true that this country will plunge [into crisis] and become like Venezuela and Zimbabwe. India went through the same pain. If we are real about transformation, we need to be real and strengthen our people ideologically and politically. We need to organise and educate our people. Did you think to transform is going to be nice?" Contrary to what some analysts have reported, the minister has not clearly countered the views of his adviser. At best we have had tepid comments fr...

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