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Vol 63 No 7

Published 31st March 2022

South Africa

Economic swings and roundabouts

Russia's war is stoking a commodity boom but tax windfalls cannot offset the Ramaphosa government's economic and political woes

At the fourth annual international investment conference in Johannesburg on 24 March, South Africa hauled in another 332 billion rand (US$22.7bn) for new projects which, added to previous year's pledges, is about 95% of President Cyril Ramaphosa's goal set in 2018 of raising R1.2 trillion ($82.4bn) in the investment campaign. It was an achievement given the pandemic and domestic political chaos.

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