South African companies are hoarding near-record amounts of cash, hurting returns with interest rates at 30-year lows, as concern that President Jacob Zuma’s ruling party could push through policies that will cut profit hold back investments from miners like Gold Fields Ltd.
Jeremy Cronin, the deputy general secretary of the South African Communist Party, said he backs the proposal by the African National Congress to establish a media tribunal because the country’s newspapers are making too many errors.
South Africa’s ruling African National Congress is bracing for a divisive leadership fight as President Jacob Zuma prepares to fend off a challenge similar to the one he mounted five years ago to depose Thabo Mbeki.
South Africa’s ruling African National Congress would be “reckless” if it decided to charge Zwelinzima Vavi, the secretary general of the Congress of South African Trade Unions, with ill discipline, the South African Communist Party said in an e-mailed statement today.
South African President Jacob Zuma moved to stamp out a debate about his leadership of the ruling African National Congress amid criticism of economic policies that have left one in four people unemployed.
The involvement of South African President Jacob Zuma ’s family in a series of controversial business deals has fueled anger among labor unions, whose support helped propel Zuma to power last year, at a time when one in four South Africans is unemployed.
A strike by South African teachers, nurses and other state workers may spread in coming days, eroding an alliance between the ruling African National Congress and labor unions and harming the country’s image with investors.