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BBEEE shenanigans - hells bells why do we put up with this nonsense.

Black-controlled Royal Bafokeng reduced its stake in Impala to 6.3 percent, the Johannesburg-based platinum producer said in a statement on Monday. The sale accounts for a stake of about 8.3 percent in the Rustenburg Lease asset, which is now 18 percent controlled by black holders after the Royal Bafokeng share transaction, said Johan Theron, a spokesman for Impala.
The government requires that black citizens own at least 26 percent of an operation at all times, a decree that the Chamber of Mines, which speaks for most producers, is disputing in court. The shareholding is a legal requirement for licenses to operate.
Whether Impala will need to conclude a new black shareholding transaction depends on the outcome of a court case in which the chamber is asking that companies should be credited with meeting the minimum requirement even if those stakes were later sold. South Africa’s push for increased black ownership of the mining industry, which accounts for almost half of the country’s exports, is part of an effort to address the legacy of apartheid that locked the black majority out of key industries.
Impala fell as much as 4.4 percent after the announcement and was trading 3.5 percent lower at 43.90 rand by 11:50 a.m. in Johannesburg.

US Manufacturing up and NFP's  better than expected; lends some gains to the $
R/$ currently 14.94

It's not just you! http://www.sharechat.co.za looks down from here.
http://www.downforeveryoneorjustme.com/www.sharechat.co.za/

http://www.politicsweb.co.za/news-and-analysis/white-control-of-business-must-end--cyril-ramaphos

Johannesburg – Deputy President Cyril Ramaphosa has promised black business that government will spend billions on Broad-Based Black Economic Empowerment (BBBEE) in the coming years.
“We are going to intensify BBBEE. We are going to sharpen our teeth and determination when it comes to unemployment. We expect that our black industrialists will have up to R24 billion made available to them to redefine the way business is done in our country,” he said at an ANC summit for academics and professionals in Johannesburg on Wednesday night.
Ramaphosa encouraged black business to bring their ideas to the ANC. He then asked them to open their wallets to support the party's local government elections campaign.
Ramaphosa said the time of white business monopolies was over. Government was hell-bent on making sure blacks owned and managed the economy.
“For far too long this economy has been owned and controlled by white people. That must come to end. For far too long, this economy has been managed by white people. That must come to an end.
"Those who don’t like this idea - tough for you. That is how we are proceeding,” he said.
Ramaphosa said government was obsessed with empowering black South Africans.
"In some cases we have become fanatical about it. It is in this area that we know we will be able to plant seeds of further economic growth in our country,” Ramaphosa said.
The ANC’s relations with business and academics were essential to speeding up the party's efforts to change the country. Academics and professionals had started the ANC and had been agents of change during the country's history, he said.

A whitewash will negatively affect the Rand come Monday. Is there a link ?

Mistake. Growth is more important than inflation.

If commodities recover strongly (unlikely, these cycles last a very long time), then there might be a temporary uptick. But we still have the Zuma/Davies version of economics, plus inflation differential means the Rand will not get lucky for any sustained period. Historical Xchange rate vs. $ tells it all and I certainly wouldn't bet against the long term trend.

. CHECK

Wtf

When Gordhan’s 17-strong “non-deal investment roadshow” travelled to London, Boston and New York last week, all flew business class. And in London the delegation, minus the trade union component, found lodgings at the luxury five-star Grange St Pauls hotel.

However, when they moved on to Boston and New York, the accommodation was at four-star level, at the Hyatt Boston Harbour and the historic Waldorf Astoria in New York.

http://www.fin24.com/Economy/gordhan-roadshow-wheres-the-belt-tightening-20160315


(R= 15.90)