Al Qarra - A symbolic level has been broken. The Rand has reached its lowest level in 4 years, at 10 to the dollar. A drop that analysts and traders attribute to the president Jacob Zuma for failing to calm the market. In has last media address on the 31st of May, he failed to outline concrete steps to resolve the persistent labour strife in the mining sector.
David Shapiro, Economist
"He dismissed the strikes as being a democratic right, well it is a democratic right if it is done properly, but if it is done in such way that it destroys the cornerstone of our economy, and he said mining was the cornerstone of our economy, then it does have negative implications".
David Shapiro, Economist
"He dismissed the strikes as being a democratic right, well it is a democratic right if it is done properly, but if it is done in such way that it destroys the cornerstone of our economy, and he said mining was the cornerstone of our economy, then it does have negative implications".
Category
🗞
News