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Assessing and promoting civil and minority rights in South Africa.

[Source: Deutsche Welle by Martina Schwikowski.]

In South Africa the business sector is struggling due to poor economic growth and ongoing political infighting. In response, the government has recently changed its stance on the economy, as President Jacob Zuma takes a tougher stance against financial institutions.

This includes instructing policy makers in the African National Congress (ANC) to introduce new laws which will require big banks to sell more stakes to black South African investors. A speedy redistribution of land will also mean black South Africans will also be encouraged to take ownership of major domestic sectors, including construction.

Wealth redistribution a major issue

Zuma’s stance is in line with the rhetoric of many of his supporters who claim there is a conspiracy driven by “Western forces” to have the president removed from power because he is fighting “white monopoly capital”. The new Finance Minister Malusi Gigaba who was appointed after Jacob Zuma sacked Pravin Gordhan, has promised wealth redistribution.

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South Africa at a Glance
56 500 000 (mid 2017 estimate)
5.1% y/y in September 2017 (CPI) & +4.2% y/y in August 2017 (PPI)
2.5% q/q for the 2nd quarter of 2017
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