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FIRM REJECTION

5th May 2017

By: Martin Creamer

Creamer Media Editor

     

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New South African Finance Minister Malusi Gigaba has firmly rejected the nationalisation notions of his adviser, Professor Chris Malikane. By contrast, Gigaba has informed investors that his short-term goal is to avoid further sovereign credit downgrades, his medium-term goal is to restore South Africa’s investment-grade rating and his immediate comment is one of criticising State electricity utility Eskom for its “mistake” in raising corporate difficulties for private-sector renewable-energy generators – all early signs of the new Minister being way off Malikane’s nationalisation trajectory.

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