ELEPHANT TO MOUSE
The once iconic Anglo American, an important participant in the development of the South African economy, is in the process of becoming a pale shadow of its former self. A company that had 650 assets in the 1980s is heading for a mere 16 assets in 2016. In between, it dropped its primary listing in Johannesburg for what has become an ill-fated primary listing in London. The elephant was turned into a mouse. Its trumpeting has given way to squeaking. Had it remained in Johannesburg, there would have been none of the unsettling calls for Anglo’s disinvestment from this country, which were incessant. The bullying of selfish traders and short-sighted analysts has done a great disservice to the South African economy – and also to the hard-pressed pension and provident funds of working South Africans. Hang your head in shame, London.
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