SOUTH Africa would reach “a point of no return” if the government enacted damaging populist policies that destroyed hope of restoring investor confidence, said BusinessLive citing the comments of Neal Froneman, CEO of Sibanye-Stillwater.
His comments reflect industry concern about whether the latest Mining Charter can reconcile the expectations of the governing party’s constituency and the need to attract investment into a deeply troubled sector that has seen the number of jobs halve in three decades to about 460,000, said the newspaper.
“We’re very close to a point of no return where this is not recoverable. If we continue with policies that are not investor friendly and are totally populist that will be the end and there’ll be no recovery from it,” he said. “Investors need certainty in their rights. If you’re going to promote a policy like this, then it should have been well defined to remove this uncertainty,” Froneman said.
