The African National Congress No Longer Regards Privatisation as a “Swear Word”
Key officials celebrate the start of construction on Africa’s second-longest bridge after delays.
The party and has accepted that “bringing private sector money on board is not selling your soul”, said South Africa’s deputy president Paul Mashatile. In an interview with the Financial Times at the end of a week-long investor roadshow to Britain and Ireland, Mashatile said South Africa’s new government, in which the ANC is sharing power with the market-leaning Democratic Alliance, had understood the need for more private investment in sectors such as energy, water and infrastructure. However, fund managers and companies are looking for more detail on reforms to break up troubled state monopolies in energy and logistics, two chokepoints that have held back Africa’s most industrial economy in recent years.