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Vol 3 (AAC) No 7

Published 1st May 2010

South Africa

Slow to let go of Hitachi

Faced with popular outcry about profiteering from electricity shortages and opaque ties between political parties and businesses, South Africa’s governing African National Congress is being forced to abandon its stake in Japan’s Hitachi Power Africa. ANC Treasurer Mathews Phosa announced on 11 April that the Chancellor House Holdings (CHH) group, the ANC’s front company for business investment, would sell its 25% share, but by mid-May the ANC had already missed its self-imposed deadline to sell the stake.

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