After Pioneer Foods announced last week that they put some projects on hold in South Africa, due to the situation in the country after the downgrades, the mining giant, Sibanye Gold, made a similar announcement.

Sibanye Gold has announced that it will not invest further in South Africa due to government problems, policy insecurity, and rhetoric against big business that deter investors.

This is directly referring to statement, last time by the ANC head of state, Jacob Zuma.

Adv. Anton Alberts of FF + describes it as “the wretched fruit of President Jacob Zuma and the ANC’s sluggish attitude of the country’s economy that is hurting the country now.” He said the signs are getting intense by the fact that big and well-known companies are no longer scared to say they do not want to invest in South Africa because of the wrestling of the president and government.”

“If Sibanye Gold’s forecast of economic prospects in South Africa and its confidence in government are so gloomy, it can certainly be assumed that many other companies share this view.”

“This raises the question of how many lesser well-known companies in South Africa have already taken their investments abroad, and how many will follow the example,” said Adv Alberts.

Read the original article in Afrikaans on Die Vryburger

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