The threat of Cyril Ramaphosa’s resignation could shave a percentage point of South Africa’s parlous GDP growth. But while some CEOs have slammed the PhalaPhala report by Sandile Ngcobo’s panel, Neal Froneman says the president should have quit.
If you’re in any doubt about how devastating bad politics can be for business, just ask Liz Truss. Or, in fact, Robert Mugabe, Jacob Zuma or Vladimir Putin.
Those who saw the rand tumble 4% and bond yields spike to their highest levels since 2020 as the full impact of the Phala Phala report sank in last week witnessed just such a moment first-hand...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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Phala Phala: A ‘defining moment’ for South African businessThe threat of Cyril Ramaphosa’s resignation could shave a percentage point of South Africa’s parlous GDP growth. But while some CEOs have slammed the PhalaPhala report by Sandile Ngcobo’s panel, Neal Froneman says the president should have quit.
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Phala Phala: A ‘defining moment’ for South African businessThe threat of Cyril Ramaphosa’s resignation could shave a percentage point of South Africa’s parlous GDP growth. But while some CEOs have slammed the PhalaPhala report by Sandile Ngcobo’s panel, Neal Froneman says the president should have quit.
Read more »
Phala Phala: A ‘defining moment’ for South African businessThe threat of Cyril Ramaphosa’s resignation could shave a percentage point of South Africa’s parlous GDP growth. But while some CEOs have slammed the PhalaPhala report by Sandile Ngcobo’s panel, Neal Froneman says the president should have quit.
Read more »
Phala Phala: Who should we believe?Phala Phala: Who should we believe? - The president’s review application asks the constitutional court, again, to determine how parliament should deal with the political scandal
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Phala Phala: Ramaphosa’s Rubicon momentLast week, President Cyril Ramaphosa had prepared a resignation speech after damning findings from a parliamentary panel over a theft at his farm. But he was persuaded to make a dramatic U-turn and fight that report. Even if he succeeds, it has cast a dark shadow over his ‘new dawn’, raised serious questions about his judgment, and hastened the ANC’s ejection from power
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