MEDIA: Government Wants Shares in Private Mines
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After a few weeks of speculation and calls from the South African Communist Party the government has finally admitted that it is interested in buying shares in the private mining industry. Cabinet will enter into discussions to arrange a plan to buy shares in private mining companies in minerals they see as strategic.
The idea has sparked mass debate amongst the countries higher-ups. The Minister of Minerals Susan Shabangu's has said that the mines would not be nationalised in her lifetime, which the ANC Youth League has had a very negative reaction to. The ANCYL has accused Shabangu of trying to "impress imperialists" and has also said that she is misleading investors and saying that they have doubts about her ability to follow ANC mineral policy objectives.
The industry has taken the economy by storm by announcing a 41% increase in new car sales. The figures have surprised most experts and have sparked a bunch of car cliche headlines in the media such as "Car sales rev up industry hopes" from fin24.co.za.
If you are experiencing slow internet speeds and are struggling to connect to the internet, you are not alone. Due to Telkom experiencing connectivity problems with an undersea cable, most South African internet users have had deal with slow internet speeds and connections being interrupted. So stop phoning and e-mailing (if you can stay online long enough) your service providers there isn't much they can do. Telkom has however said the problem should be fixed by today.
Business News Sector Tags: Media|