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Vol 60 No 12

Published 14th June 2019

South Africa

A tale of two ANCs

The ruling party at war with itself searches for answers to a looming recession, spiralling unemployment and failing parastatals

Two wings of the African National Congress – the constitutional and the rent-seeking – are engulfed in a civil war which could turn the country's economy into a pariah shunned by all foreign investment by year-end. 'You can no longer talk about the ANC as one coherent body,' said one exasperated liberal economist after the party announced that it would recommend extending the mandate of the SA Reserve Bank, the central bank, to include developmental needs rather than confine itself to combating inflation.

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