Ramaphosa has called in the past for new laws to compel white-owned
financial institutions to invest a proportion of their assets
in black-controlled ventures. But such a prescriptive
approach has been dismissed by ministers, who fear it would
send the wrong signal to investors.
that issue, Mr Mbeki is not likely to back down. As the architect
of South Africa's economic reforms, he has speeded up privatisation
and allowed some of the country's biggest companies to move their
primary stock exchange listings to London.
his pledge to do more to help black business reflects frustration
that the market value of their companies on the Johannesburg Stock
Exchange has fallen by almost half over the past two years -- to
just five-point-three per cent of the total.