Economic policy shifts in South Africa.
Mineral Resources Minister Ngoako Ramatlhodi yesterday confirmed that the government is considering proposals that would enable it to set below-market "developmental" prices for certain minerals to boost downstream manufacturing. Together with "radical" plans to accelerate greater ownership by black individuals, it signals the rise of Left-leaning figures in the cabinet.
- State plans for an 853 million dollar hydrocarbons port at Saldanha Bay will only bear fruit if global prices, and local policies, improve.
- More frequent power blackouts will undermine industrialisation goals, despite government incentives to assist manufacturing.
- Affirmative action policies using national demographics in provinces with big minority populations will likely spur continued court action.
- Increases in black home buying (49.2% of buys in 2014; 43.0% in 2005) is likely to continue, though more slowly given income stagnation.