Johnathan Paoli
THE Presidency has moved to dismiss media speculation and reports that BHP Billiton’s proposed takeover of Anglo American, excluding South African assets, is a sign of reluctance to invest in the country.
Speaking during a media briefing on Monday, Presidential spokesperson Vincent Magwenya said that President Cyril Ramaphosa rejected the recent narrative surrounding the market activity as a vote of no-confidence, and denied that the commercial approach by BHP Billiton equalled a hostile environment for investors.
Magwenya said that challenges and obstacles relating to the development of business in the country were being resolved with the participation and partnership of business.
He confirmed that Ramaphosa, Cabinet members and senior business leaders agreed in June last year, to establish a partnership to reverse the economic downturn and rebuild confidence in the country’s trajectory.
He said that the Presidency identified three priorities which played a large role in undermining investor
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