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<p>Industry heavyweights of South Africa’s mining gathered at Sandton’s Inanda Club to look into the country&#8217;s seemingly shaky mining industry. Bernard Swanepoel, CEO Harmony Gold joins CNBC Africa for more.</p>


Joburg Indaba & future of SA’s mining

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<p>The founding General Secretary of the Congress of South African Trade Unions, Jay Naidoo, formed part of the delegates presenting at the ongoing Joburg Mining Indaba.</p>


Jay Naidoo on transforming mining sector

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<p>At the recent Essence Festival in Durban, CNBC Africa caught up with Stella Khumalo<br />
CEO, UShaka Marine World and discussed how the local tourism industry in Durban has felt the brunt of low economic growth in the country.</p>


Durban Essence Festival boosts local economy

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<p>Radical Economic Transformation was a key theme during this year&#8217;s Essence Festival Durban. KZN MEC Sihle Zikalala shared his views on what the province is doing in this space, as-well as the current status of the ANC leadership in the province.</p>


Sihle Zikalala talks on ANC leadership issues in province

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<p>CNBC Africa got an exclusive interview with ANC Presidential Candidate Nkosazana Dlamini-Zuma at the Essence Festival Durban. She shared her views on women empowerment, the mining sector and Radical Economic Transformation.</p>


ANC’s Nkosazana Dlamini-Zuma on women empowerment, radical economic transformation

<p data-reactid="39">Ratings firm Moody’s on Thursday warned that proposed plans by South Africa’s government to implement “radical economic transformation” could turn away investors and rising poverty may curb Treasury’s efforts to rein in fiscal deficits.</p>
<p data-reactid="40">Moody’s said in a research report that plans for land redistribution, preferential procurement and other forms of affirmative actions could deter investors.</p>
<p data-reactid="41">On Wednesday, the monthly business confidence index fell to the lowest level since mid-1980s as political scandals and policy uncertainty continued to weigh.</p>
<p data-reactid="42">In June, Moody’s downgraded South Africa’s credit rating to Baa3, the bottom of the investment grade table, with a negative outlook citing the abrupt sacking of Pravin Gordhan as finance minister in March.</p>
<p data-reactid="43">“Some proposals, such as the recently drafted mining charter, present risks to growth by reducing regulatory stability and further undermining investor confidence,” said Moody’s senior analyst Zuzana Brixiova said in the note.</p>
<p data-reactid="44">The revised mining laws, published by minerals ministry in June, require companies to increase their black ownership from 26 percent to 30 percent or possibly see their licenses revoked.</p>
<p data-reactid="45">Mining shares fell to more than one-year lows when Minister Mosebenzi Zwane released the revised charter, and its implementation has since been suspended after a lobby group challenged it in court.</p>
<p data-reactid="46">The ruling African National Congress (ANC) is due to hold an election in December to replace President Jacob Zuma as its leader, and several factions are jostling for power.</p>
<p data-reactid="48">Radical economic transformation, a vague ANC plan to tackle racial inequality, has emerged as the key rallying point for the two main factions led by Deputy President Cyril Ramaphosa and Nkosazana Dlamini-Zuma respectively.</p>
<p>The ANC, in power since 1994 following the end of apartheid, is also keen to woo back voters ahead of national polls in 2019 after losing three key urban municipalities to opposition coalitions in local government elections in 2016.</p>
<div class="Attribution_attribution_o4ojT" data-reactid="49">
<p class="Attribution_content_27_rw" data-reactid="50">Reporting by Mfuneko Toyana; Editing by James Macharia and Pritha Sarkar</p>
</div>


South Africa’s radical economic transformation policy could turn off investors – Moody’s

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<p>Mineral Resources Minister, Mosebenzi Zwane, says it&#8217;s time people stop using the phrase radical economic transformation without implementing crucial policies.</p>


Minister Zwane on radical economic transformation

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<p>With a country in recession and  unemployment on the rise journalists crammed into Luthuli House to hear what answers the ANC NEC had  after meeting for a four day lekgotla, which coincidentally was the current Leaderships last such briefing.</p>


ANC NEC lekgotla- Did it move the needle?

<p>Prof. Quinton Johnson | Nelson Mandela University</p>
<p>&nbsp;</p>
<p>A more than 365 year history of colonialism and apartheid have indelibly affected land, heritage and human rights in South Africa.</p>
<p>Among the vast array of discriminatory laws was the Land Act of 1913 that spatially segregated people through land dispossession. It amplified the vast canyon of inequality, further shattered the social fabric of communities and radically compromised economic development of the black majority.</p>
<p>It was only after the 1994 democratic elections that the vast majority of citizens could hope for constitutional restitution of their land.</p>
<p>Significant socio-economic advances have been made since 1994, but several challenges need to be overcome as indicated by recent trends. Much more needs to be done. This is particularly true when it comes to land distribution and restitution.</p>
<p>The 2013 state land audit report illustrates why. By 1994 about 87% of the land was owned by whites and only 13% by black people. By 2012 only 7.95 million hectares had been transferred to black owners through land reform. This represented only 7.5% of formerly white-owned land.</p>
<p>Land reform was discussed with understandable intensity during the recent National Policy Conference of the governing African National Congress. Debates centred on whether land should be expropriated without compensation.</p>
<p>It’s within this context that a National Forum was established for dialogues on land reform. The National Forum is made up of a network of organisations that includes three universities, the South African Human Rights Commission and Foundation for Human Rights.</p>
<p>The National Forum focused on whether it was possible to achieve effective land reform through Section 25 of the South African Constitution, which deals with property rights. The National Forum also examined the bureaucratic, legal and constitutional constraints that slow down land redistribution and restitution. It also explored the policy and legislative options necessary to address the complex challenges.</p>
<p>The National Forum concluded that South Africa’s constitution doesn’t stand in the way of land reform. However, it’s clear that political negligence has fuelled undue bureaucracy, mismanagement and corruption, which have severely hampered meaningful land reform. It reached consensus on a 10-point plan for constitutionally accelerated land reform. The hope is that it can help break the long-standing impasse over land, and move the country toward radically inclusive socio-economic growth.</p>
<h2>Accelerating land reform</h2>
<p>Aspects of the 10-point plan include:</p>
<ol>
<li>A human rights approach to land redistribution, grounded in the effective implementation of Section 25 of the Constitution. This could still guarantee a life of dignity, equality and freedom for all citizens.</li>
<li>Existing land reform legislation is not effectively implemented. The Land Claims Commission and Land Claims Court, which were created through the Restitution of Land Rights Act (1994), have not been effective. Unnecessary bureaucratic bungling, significant corruption and limited expert skills have been exacerbated by cadre deployment. This is the practice of appointing party political loyalists to government positions irrespective of ability. In addition, these institutions have yet to be made more accessible and more representative.</li>
<li>The possibility of adopting further laws to accelerate land reform is not being used. This is the case even though Section 25(8) of the Constitution specifically indicates that it can be done.</li>
<li>The possibility of repealing existing legislation that’s inconsistent with or hampering land reform is not being pursued. This should be rectified.</li>
<li>There is a need for national legislation on expropriation. A bill is before Parliament – the Expropriation Bill – but it’s been introduced late and processed without urgency. The possibility of effecting appropriate amendments to the 1975 Expropriation Act should also be considered.</li>
<li>There should be improved communication and coordination between various government departments. Currently, the location of relevant land reform mandates and competencies are spread across several departments. These should be aligned to accelerate the pace of the process.</li>
<li>A draft bill on cultural and spiritual access to land must be developed to enable citizens’ access to cemeteries and related holy sites where their family members are buried.</li>
<li>The courts should pronounce on the meaning of “just and equitable” compensation in Section 25 of the Constitution, to provide for better definition and interpretation of this provision within the context of land reform.</li>
<li>Communal Property Associations, community and traditional leader tensions must be resolved through meaningful engagement. Communication channels must be open, all role-players included and all relevant information made available to every stakeholder. Furthermore, all affected parties must be able to influence the decisions taken. In addition, skills training for officials dealing with land restitution is necessary, whilst an updated land audit is required.</li>
<li>There is need for a Land and Economy Convention, similar to the Convention for a Democratic South Africa (CODESA). This was held to negotiate the country’s peaceful transition to democracy. A role for the new convention would be to address poverty, inequality and unemployment. The aim would be to restore citizens’ dignity, strengthen the economy and advance democracy.</li>
</ol>
<p>The National Forum envisions the 10-point plan being effected within the context of the country’s National Development Plan’s Vision 2030. The plan was drawn up to provide a roadmap for the country to 2030. Its central aims are to reduce unemployment, poverty and inequality.</p>
<p>If land reform is realised, South Africa could present a more humane, just, peaceful, prosperous and democratic face to the world.</p>


Op-Ed: A 10-point plan to accelerate orderly land reform in South Africa

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<p>The South African Communist Party is taking legal action against President Zuma over his controversial cabinet reshuffle in March. The party&#8217;s second Deputy Secretary General Solly Mapaila said Zuma lied about his decision to fire, amongst others,.</p>


SACP to contest future elections independently

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<p>President Jacob Zuma has apparently been offered an amnesty package of R2 billion to step down from office. The agreement would also see Zuma cleared of his more than 700 criminal charges. That&#8217;s according to The Daily Maverick.</p>


Zuma offered R2bn to step down – reports

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<p>Eradicating unemployment in South Africa is going to be a big challenge. These are the views of former state President Thabo Mbeki, who was speaking at an event hosted by Power FM in Sandton yesterday.</p>


Eradicating unemployment in SA a huge challenge – Mbeki

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<p>South Africa Finance Minister Malusi Gigaba said government cannot give free bailouts to state owned companies; and called for good corporate governance to improve performance of SOEs.</p>


SOEs must show improved performance – Malusi Gigaba

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<p>South Africa&#8217;s Minister of Finance Malusi Gigaba spoke on his relationship with the Gupta family and his name being linked to the Gupta leaked e-mails.</p>


Malusi Gigaba dissociates his name from Gupta leaks

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<p>South Africa&#8217;s Minister of Finance Malusi Gigaba gives his stance on the importance of the independence of the South African Reserve Bank highlighting the role of the monetary policy during a receding economy.</p>


Malusi Gigaba reaffirms commitment to reserve bank’s independence

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<p>First on CNBC Africa: SA’s Finance Minister Malusi Gigaba discusses recession, the inclusive growth action plan, state-owned enterprises and dealing with corruption.</p>


Minister Malusi Gigaba’s plan to resuscitate the economy

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<p>Politics has been a major driver of markets in recent years &#8211; both at home and abroad. This is not expected to change anytime soon. We are now going to get deeper insights into the ANC&#8217;s policy and strategy as it prepares to elect its next President.</p>


Radical Economic Transformation

Joburg Indaba & future of SA’s mining

Jay Naidoo on transforming mining sector

Durban Essence Festival boosts local economy

Sihle Zikalala talks on ANC leadership issues in province

ANC’s Nkosazana Dlamini-Zuma on women empowerment, radical economic transformation

South Africa’s radical economic transformation policy could turn off investors – Moody’s

Minister Zwane on radical economic transformation

ANC NEC lekgotla- Did it move the needle?

Op-Ed: A 10-point plan to accelerate orderly land reform in South Africa

SACP to contest future elections independently

Zuma offered R2bn to step down – reports

Eradicating unemployment in SA a huge challenge – Mbeki

SOEs must show improved performance – Malusi Gigaba

Malusi Gigaba dissociates his name from Gupta leaks

Malusi Gigaba reaffirms commitment to reserve bank’s independence

Minister Malusi Gigaba’s plan to resuscitate the economy

Jessie Duarte talks ANC policy, strategy ahead of elective conference

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Radical Economic Transformation

Joburg Indaba & future of SA’s mining

Jay Naidoo on transforming mining sector

Durban Essence Festival boosts local economy

Sihle Zikalala talks on ANC leadership issues in province

ANC’s Nkosazana Dlamini-Zuma on women empowerment, radical economic transformation

South Africa’s radical economic transformation policy could turn off investors – Moody’s

Minister Zwane on radical economic transformation

ANC NEC lekgotla- Did it move the needle?

Op-Ed: A 10-point plan to accelerate orderly land reform in South Africa

SACP to contest future elections independently

Zuma offered R2bn to step down – reports

Eradicating unemployment in SA a huge challenge – Mbeki

SOEs must show improved performance – Malusi Gigaba

Malusi Gigaba dissociates his name from Gupta leaks

Malusi Gigaba reaffirms commitment to reserve bank’s independence

Minister Malusi Gigaba’s plan to resuscitate the economy

Jessie Duarte talks ANC policy, strategy ahead of elective conference

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