Market data including bonds and fuel prices
They may be flawed, but they can only be a good thing if they prompt major parties to reflect on their policies and what they offer citizens
Former government adviser Salim Abdool Karim warns of ongoing use of non-efficacious treatments
The governing party is discussing whether those criminally convicted of a serious crime should still have a home in the ANC
Headline earnings per share are expected to fall by between 47% and 52% in the miner's half-year, with gold production falling by more than three quarters
Business Day TV speak to RMB economist Siobhan Redford
The claim by Sars that it costs the country R31bn is wrong — the real cost is about R4bn a year
All sectors saw lower returns, apart from energy
Fast bowlers Kagiso Rabada and Anrich Nortjé make full use of conducive conditions to rip through the England top order
It's mostly a styling pack with added features and a chirpier exhaust note
As a business owner who manufactures locally as well as importing, I was interested in the arguments put forward by Cosatu’s Bheki Ntshalintshali (“Ideologues do the jobless a disservice by turning localisation into a swearword”, January 9).
With an expanded unemployment rate of 46.6% and rising, I can understand his concern. Totalitarian revolutions have been prompted by unemployment of half this rate, and SA has probably just experienced its version of the “Reichstag fire”.
Though the ANC government has spent the past 25 years creating our unemployment problem through a myriad of decisions, many of which were ideological in nature, I understand that as SA is effectively broke it’s going to be private business that must now employ more people and save the day.
I do wish Ntshalintshali would stop referring to “big business” as it will be predominantly in the small and medium-sized enterprises where the miracle of increased local employment could occur. In my own industry, steel fabrication, conglomerates like ArcelorMittal SA are still protected by an effective 18% raw steel import duty, making the smaller fabricators such as myself uncompetitive.
Before I get excited about Ntshalintshali’s plea for localisation, and mindful of his disparagement of ideological thinking, can he confirm that Cosatu is now prepared to scrap BEE in all of its venomous variants? Such a revolutionary change in policy is the critical first step to increasing local jobs and will show if he really means business.
James Cunningham Camps Bay
JOIN THE DISCUSSION: Send us an email with your comments to firstname.lastname@example.org. Letters of more than 300 words will be edited for length. Anonymous correspondence will not be published. Writers should include a daytime telephone number.
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.