Phala Phala: A ‘defining moment’ for South African business
The threat of Cyril Ramaphosa’s resignation could shave a percentage point off South Africa’s parlous GDP growth. But while some CEOs have slammed the Phala Phala report by Sandile Ngcobo’s panel, Neal Froneman says the president should have quit
08 December 2022 - 05:00
If you’re in any doubt about how devastating bad politics can be for business, just ask Liz Truss. Or, in fact, Robert Mugabe, Jacob Zuma or Vladimir Putin.
Those who saw the rand tumble 4% and bond yields spike to their highest levels since 2020 as the full impact of the Phala Phala report sank in last week witnessed just such a moment first-hand...
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