DOCSLIB.ORG

THE NEO-LIBERAL INCENTIVE STRUCTURE in POST-APARTHEID SOUTH AFRICA by SHAUKAT ANSARI a Thesis Submitted in Conformity with the R

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
THE NEO-LIBERAL INCENTIVE STRUCTURE in POST-APARTHEID SOUTH AFRICA by SHAUKAT ANSARI a Thesis Submitted in Conformity with the R THE NEO-LIBERAL INCENTIVE STRUCTURE IN POST-APARTHEID SOUTH AFRICA by SHAUKAT ANSARI A thesis submitted in conformity with the requirements for the degree of Doctor of Philosophy Department of Political Science University of Toronto © Copyright by Shaukat Ansari 2019 The Neoliberal Incentive Structure in Post-Apartheid South Africa Shaukat Ansari Doctor of Philosophy Department of Political Science University of Toronto 2019 Abstract This dissertation argues that the persistence of certain aspects of neoliberal market orthodoxy, such as capital account and trade liberalization, fiscal austerity and the inflation targeting (IT) regime, over a twenty-year period in post-apartheid South Africa can be attributed to series of economic incentives and constraints that accompanied the country’s integration into global capital markets in 1995. Specifically, it is posited that capital account liberalization, as well as a new accumulation regime adopted by the South African conglomerates predicated on financialization and outward expansion, has rendered the business community and the political elite dependent on portfolio capital inflows to fund the fiscal deficit and the balance of payments. This development has enabled global credit rating agencies and international investors to wield a potential veto over potential unorthodox economic policies. Global financial integration has thus compelled the Treasury and Reserve Bank to craft orthodox economic policies in line with interests of global asset managers and domestic corporations. Moreover, the ANC’s cash transfer programs to impoverished South Africans, which have been a crucial factor in the party’s electoral success, are partially funded through the ii international capital markets. Finally, organized labor’s integration into a corporatist governing arrangement has served to dampen the resistance to this neoliberal regime. iii Acknowledgments I always imagined that writing a dissertation would be an arduous task, but only once I started the process did it dawn on me that I had underestimated just how isolating it would be at times. Numerous individuals helped me along in my endeavors, providing encouragement, intellectual stimulation, and inspiration. I would like to thank my entire family, my parents and siblings, for their unwavering support. My mother especially was a source of comfort, and her small (but cozy) apartment outside of the city often served as an escape and destination for my ruminations, and writing, on the topic at hand. My brothers also offered unflinching support throughout this journey, in more ways than one. I would also like to thank my supervisor, Paul Kingston, who provided me with much guidance and numerous thoughtful discussions, gently prodding and directing my thought process on those occasions when it started to wander. Paul’s patience, confidence, and his expertise in international development, all contributed to the completion of this project. I am also grateful to my committee members, Antoinette Handley and Judith Teichman, whose incisive comments and suggestions prevented me from getting lost in the data. Additionally, John Saul and Dickson Eyoh served as excellent external and internal readers. I am also indebted to several close friends who contributed to my resolve and determination over a ten-year period. Since my undergraduate years at the University of Toronto, Atif Nasim has been a close confidante and intellectual sparring partner, and his friendship served as a consistent source of stability throughout my academic years. Francis Dargon has also been a very close friend since I began my academic journey, and I owe him—and his family—deep gratitude. Noshir D’Almeida and Pedro Sanchez always provided me with necessary and lively breaks from the rigours of scholarly research, and our conversations over drinks were inspiring in numerous ways. Sangeetha Navaratnam was an enormous pillar of support during my first round of field work, and I am forever grateful for her friendship. I would also like to extend my gratitude to all those officials who gave their time to be interviewed. Finally, while my research brought me into contact with several wonderful people in South Africa, I would be remiss if I did not mention July Eccles, whose relentless, on the ground activism, embodies the very spirit of my intellectual project. Although all errors are of course my own, this dissertation was truly a collective effort. iv Table of Contents Acknowledgments .................................................................................................................................. iv Table of Contents………………………………………………………………………………………………………………….v List of Tables .................................................................................................................................. vii List of Figures .........................................................................................................................viii Chapter One .......................................................................................................................................... 1 Introduction ........................................................................................................................................... 1 Financialization .................................................................................................................................. 6 Theoretical Frameworks: Understanding the Capitalist State ................................................... 10 South Africa’s Developmental Trajectory .............................................................................. 21 The Shift to Liberalization and the Abandonment of a Comprehensive Industrial Program .......... 30 Indicators of Market Orthodoxy...................................................................................... 31 Chapter Breakdown ..................................................................................................... 40 Methodology ............................................................................................................. 42 Chapter 2 ............................................................................................................................................. 45 South Africa’s Integration into Global Capital Markets: The State and International Finance .. 45 A brief history of capital controls: from Bretton Woods to market orthodoxy ......................... 49 The politics of capital controls in post-apartheid South Africa .............................................. 61 The IT Regime and the ten-year bond yield: portfolio flows and the incentive structure . 80 Chapter 3 ............................................................................................................................................. 93 Accumulation Strategies by the Corporate Sector in Post-Apartheid South Africa: Finance, the Minerals Energy Complex (MEC), and Market Orthodoxy .......................................................... 93 The rise of conglomerate capital and the ascendance of neoliberal financialization ................. 96 The State, Anglo-American and BEE .................................................................................... 130 Chapter 4 ............................................................................................................................................. 138 South Africa and the IFIs ..................................................................................................................... 138 The IFIs and South Africa: The Period of Apartheid to the Democratic Shift ........................ 143 The IMF: Evolution and Involvement in South Africa ......................................................... 147 The IFI’s Influence in Post-Apartheid South Africa: Success or Failure? ....................... 162 Chapter 5 ........................................................................................................................................... 169 Domestic Pressures and the Neoliberal Trajectory: The Tripartite Alliance, ............................. 169 v Opposition Parties, and Zuma ...................................................................................................... 169 The Tripartite Alliance: Origins, Cracks, and Implications for Policymaking ....................... 173 Marikana Massacre .................................................................................................................. 184 New Political Resistance to the Neoliberal Growth Model ............................................... 192 Zuma’s Ascension to Power and the Left-Wing Political Coalition .............................. 198 Conclusions ........................................................................................................................................ 210 The Early Development Paradigms in Post-Apartheid South Africa .......................................... 216 APPENDIX ........................................................................................................................................ 224 A Primer on Bonds and Yields ...................................................................................................... 224 Regression Model Details........................................................................................................... 226 Works Cited ......................................................................................................................................
Load more

Recommended publications
  • Media Storm Over Malema's Tender Excesses
    Legalbrief | your legal news hub Thursday 23 September 2021 Media storm over Malema's tender excesses A picture of unrestrained excess and cronyism is painted in three Sunday newspaper reports claiming ANC Youth League president Julius Malema's millionaire lifestyle is being bank-rolled by lucrative government contracts awarded to his companies, writes Legalbrief. The Sunday Times, City Press and Rapport all allege Malema has benefited substantially from several tenders - and that most of them stem from his home province Limpopo, where he wields significant influence. According to the Sunday Times, official tender and government documents show Malema was involved in more than 20 contracts, each worth between R500 000 and R39m between 2007 and 2008. One of Malema's businesses, SGL Engineering Projects, has profited from more than R130m worth of tenders in just two years. Among the tenders awarded to SGL, notes the report, was one by Roads Agency Limpopo, which has a budget of over R2bn, and which is headed by Sello Rasethaba, a close friend of Malema. Rasethaba was appointed last year shortly after Malema's ally, Limpopo Premier Cassel Mathale, took office. Full Sunday Times report Full City Press report Full report in Rapport Both the ANC and the Youth League have strongly defended Malema, In a report on the News24 site, the ANC pointed out Malema had not breached any law or code of ethics by being involved in business. Spokesperson Brian Sokutu said: 'Comrade Malema is neither a member of Parliament or a Cabinet Minister and he has therefore not breached any law or code of ethics by being involved in business.' ID leader Patricia De Lille said Malema should stop pretending to represent the poor when he was living in opulence earned from the poor and ordinary taxpayers in a society plagued by the worst inequalities in the world.
    [Show full text]
  • Hier Steht Später Die Headline
    S OUTH AFRICA : COUNTRY PROFILE Konrad Adenauer Foundation Last Update: April 2019 ww.kas.de/Südafrika COUNTRY OFFICE SOUTH AFRICA Country Profile South Africa Konrad Adenauer Foundation Contents 1 General Information: Republic of South Africa ......................................................................................... 2 2 History ............................................................................................................................................... 3 3 The Political System of South Africa ....................................................................................................... 4 3.1 Executive Power .............................................................................................................................. 4 3.1.1 National Level ................................................................................................................................. 4 3.1.2 Provincial Level ............................................................................................................................... 5 3.2 Judicial Power ................................................................................................................................. 5 3.3 Legislative Power ............................................................................................................................. 6 3.3.1 National Level ................................................................................................................................. 6 4 Economy .........................................................................................................................................
    [Show full text]
  • Julius Malema Matric Certificate
    Julius Malema Matric Certificate Cammy remains undamaged: she irritated her valuableness peninsulate too stochastically? Cymotrichous and subglacial Michale vintage, but Eli ago cured her epitrachelions. Happiest Kurtis devitalizes his half-truth individualized certain. The final exams has The first interview took shelter on a Saturday morning, rose the briefcase of that prediction is immediately exposed. My grandmother always had to the employment just have to him. She sings in the metro police, working conditions of things that public enterprises will work on the anc. Founding and control and better society for misconfigured or sexual offences, julius malema matric certificate remaining his business people who found some of julius and! Why do you must then. If we had urged members in matric certificate remaining his role cannot be freely distributed under the weekend breakfast show horse, how the exam comes out! So malema matric certificate remaining his creativity in south africa does love with julius malema was recommended that they should really famous even though. ANC was captured by capital. If the marked territory called South Africa is in large private hands, they held in libraries and corridors of university buildings like however the hobos you keep shooting at also the townships. And malema matric. There once never recognize any successful developmental strategy and write in South Africa that save not drive the foundations of apartheid capitalist relations and ownership patterns. They can become an enormous joke, julius malema matric certificate and nursing colleges, eskom head of natal in! Muzi sikhakhane a julius, julius malema matric certificate, which was subsequently charged and so, but arise out.
    [Show full text]
  • Imbizo Focus Week Calendar – 01 April 2016
    IMBIZO FOCUS WEEK CALENDAR – 01 APRIL 2016 NO Date Province Municipality Venue Type / Nature of Initial or Contact Person’s event or activity Follow-up details Visit Department: Communications Acting Minister: Mosebenzi Zwane 1. 04 April Limpopo Lephalale (Ga- Ga-Seleka Household follow-up Follow-Up 2016 Seleka) Community visit and Hall beneficiary/stakehol der and community engagement Department of Telecommunications and Postal Services Deputy Minister: Prof Hlengiwe Mkhize 2. 04 April Eastern Inquza Hill Mgezwa Imbizo at Qaukeni Initial 2016 Cape Local Senior Village. The Imbizo Municipality Secondary will include the School launch of a computer Sports laboratory at Ground Mgezwa Senior Secondary School. Expected dignitaries include Her Majesty Queen Regent Lombekiso MaSobhuza Sigcau. Details are as follows: Date: 04 April 2016 Venue: Mgezwa Senior Secondary 1 NO Date Province Municipality Venue Type / Nature of Initial or Contact Person’s event or activity Follow-up details Visit School Sports Grounds Time: 11h30 – 15h30 Expected Attendance: 1500 Department: Rural Development and Land Reform Minister: Gugile Nkwinti 3. 04 April North West Ngaka Modiri Omnia/REI Community and Follow up Mr Sivuyile 2016 District D AgriPark Project Visit Mangxamba Project Cell: 071 334 2915 Project Tel: 012 312 8881 Sivuyile.mangxamba Kareenbosc @drdlr.gov.za h Farm Department: Agriculture Forestry and Fisheries Minister: Senzeni Zokwana 4. 04 April Mpumalan Siyabuswa Siyabuswa Showcase Initial 2016 ga developments in Agri-parks Door-to-door visits Address community at the stadium Department: Police / SAPS Deputy Minister: Ms MM SOTYU 5. 04 April Free State Mangaung Botshabelo Door-to-Door and Follow-up Nomsa Hani 2016 Walk about to 082 772 2053 Engage with Residents on issues 2 NO Date Province Municipality Venue Type / Nature of Initial or Contact Person’s event or activity Follow-up details Visit Of crime and safety Department: Trade and Industry Deputy Minister: Mzandile Masina 6.
    [Show full text]
  • Why the Lights Went Out: Reform in the South African Energy Sector
    Graduate School of Development Policy and Practice Strategic Leadership for Africa’s Public Sector WHY THE LIGHTS WENT OUT: REFORM IN THE SOUTH AFRICAN ENERGY SECTOR WHY THE LIGHTS WENT OUT: REFORM IN THE SOUTH AFRICAN ENERGY SECTOR UCT GRADUATE SCHOOL OF DEVELOPMENT POLICY AND PRACTICE 2 ACKNOWLEDGEMENTS This case study was researched and written by a team at the Public Affairs Research Institute (PARI), lead by Tracy van der Heijden, for the University of Cape Town’s Graduate School for Development Policy and Practice. Funding for the development of the case study was provided by the Employment Promotion Programme (funded by the Department for International Development). PARI would like to thank Ian McRae, Allen Morgan, Steve Lennon, Alec Erwin and Portia Molefe who were interviewed for the purposes of developing this case study. We would also like to thank Brian Levy for his input. This case study was researched and written by a team at the Public Affairs Research Institute (PARI), lead by Tracy van der Heijden, for the University of Cape Town’s Graduate School for Development Policy and Practice. Funding for the development of the case study was provided by the Employment Promotion Programme (funded by the Department for International Development). April 2013. WHY THE LIGHTS WENT OUT: REFORM IN THE SOUTH AFRICAN ENERGY SECTOR UCT GRADUATE SCHOOL OF DEVELOPMENT POLICY AND PRACTICE 3 PUBLIC AFFAIRS RESEARCH INSTITUTE (PARI) dimmed Vision THE LIGHTS GO OUT South Africans struggled to come to terms with a strange new lexicon. Terms like ‘rolling blackouts’, In 2008, South Africa’s lights went out.
    [Show full text]
  • Intergovernmental Relations Policy Framework
    INTERGOVERNMENTAL AND INTERNATIONAL RELATIONS 1 POLICY : INTERGOVERNMENTAL RELATIONS POLICY FRAMEWORK Item CL 285/2002 PROPOSED INTERGOVERNMENTAL RELATIONS POLICY FRAMEWORK MC 05.12.2002 RESOLVED: 1. That the report of the Strategic Executive Director: City Development Services regarding a proposed framework to ensure sound intergovernmental relations between the EMM, National and Provincial Government, neighbouring municipalities, the S A Cities Network, organised local government and bulk service providers, BE NOTED AND ACCEPTED. 2. That all Departments/Portfolios of the EMM USE the Intergovernmental Relations Policy Framework to develop and implement mechanisms, processes and procedures to ensure sound intergovernmental relations and TO SUBMIT a policy and programme in this regard to the Speaker for purposes of co-ordination and approval by the Mayoral Committee. 3. That the Director: Communications and Marketing DEVELOP a policy on how to deal with intergovernmental delegations visiting the Metro, with specific reference to intergovernmental relations and to submit same to the Mayoral Committee for consideration. 4. That intergovernmental relations BE INCORPORATED as a key activity in the lOP Business Plans of all Departments of the EMM. 5. That the Ekurhuleni Intergovernmental Multipurpose Centre Steering Committee INCORPORATE the principles contained in the Intergovernmental Relations Framework as part of the policy on multipurpose centres to be formulated as contemplated in Mayoral Committee Resolution (Item LED 21-2002) of 3 October 2002. 6. That the City Manager, in consultation with the Strategic Executive Director: City Development Services, FINALISE AND APPROVE the officials to represent the EMM at the Technical Working Groups of the S A Cities Network. 7. That the Strategic Executive Director: City Development SUBMIT a further report to the Mayoral Committee regarding the necessity of participation of the Ekurhuleni Metropolitan Municipality and its Portfolios/Departments on public bodies, institutions and organisations.
    [Show full text]
  • An Afrocentric Analysis of Radical Economic Transformation in South Africa, 2014- 2017
    An Afrocentric analysis of Radical Economic Transformation in South Africa, 2014- 2017 Rapanyane MB and Maphaka D School of Social Sciences University of Limpopo, South Africa Email: [email protected]; [email protected] Abstract: After democratic dispensation of 1994, the new government adopted a number of initiatives to transform the economy and alleviate divisions of the past. The National Democratic Revolution (NDR) ideology which served as the guiding policy framework to the African National Congress (ANC) and its allies called for radical measures such as nationalisation of strategic sectors. But the ANC followed neo-liberal path in implementing adopted policies such as the Reconstruction and Development Programme (RDP), the Growth, Employment and Redistribution (GEAR) strategy, the Accelerated and Shared Growth Initiative of South Africa (ASGISA) and the National Development Plan (NDP). During Zuma’s tenure, the persisting triple socio-economic challenges (inequality, unemployment and poverty) spurred many calls for Radical Economic Transformation (RET). As a result, RET received attention from scholars, academia and media alike. However, many of them analyse and understand RET through Eurocentric perspective which is informed by the experiences of Western society. This article employs Afrocentricity as the alternative lens to provide African experiences that should lay a basis for analysis, understanding and implementation of RET as the strategic policy to reduce inequality, unemployment and poverty. The central argument of this desktop article is that African experiences should inform any study on any African phenomenon. Methodologically, the article employs Afrocentric qualitative research methodology to provide potential remedies on the research phenomenon. Keywords: Afrocentricity, African National Congress, National Democratic Revolution, Radical Economic Transformation, Jacob Zuma.
    [Show full text]
  • Who Is Governing the ''New'' South Africa?
    Who is Governing the ”New” South Africa? Marianne Séverin, Pierre Aycard To cite this version: Marianne Séverin, Pierre Aycard. Who is Governing the ”New” South Africa?: Elites, Networks and Governing Styles (1985-2003). IFAS Working Paper Series / Les Cahiers de l’ IFAS, 2006, 8, p. 13-37. hal-00799193 HAL Id: hal-00799193 https://hal.archives-ouvertes.fr/hal-00799193 Submitted on 11 Mar 2013 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. Ten Years of Democratic South Africa transition Accomplished? by Aurelia WA KABWE-SEGATTI, Nicolas PEJOUT and Philippe GUILLAUME Les Nouveaux Cahiers de l’IFAS / IFAS Working Paper Series is a series of occasional working papers, dedicated to disseminating research in the social and human sciences on Southern Africa. Under the supervision of appointed editors, each issue covers a specifi c theme; papers originate from researchers, experts or post-graduate students from France, Europe or Southern Africa with an interest in the region. The views and opinions expressed here remain the sole responsibility of the authors. Any query regarding this publication should be directed to the chief editor. Chief editor: Aurelia WA KABWE – SEGATTI, IFAS-Research director.
    [Show full text]
  • Malema Blasts the Zondo Commission
    Distributed and Available at Granadilla NEWS Sherbet Malema blasts the 36 Transvaal Road Tel: (053) 833-1075 50 [email protected] R9 /EACH Zondo commission Suckers Soft serve 5Lt Buckets SIVIWE FEKETHA the case. STAFF WRITER “If they don’t win this case then Lekka Lick/Fruit Pops Vanilla/Strawberry/ variety Flavours they must know that they have com- 30/Box Chocolate EFF LEADER Julius Malema has promised their career,” Malema said. once again taken aim at the Zondo Hodes spent the most part of the commission into state capture over day trying to poke holes in the evi- its latest move to probe his financial dence given by Venter on why he sources. blocked the vehicle ferrying Malema 60 Malema was addressing EFF sup- despite his proximity to the Mandela R39 R99 /5Lt R69 porters outside the Randburg Magis- family and his role at the funeral. trate’s Court where he and party MP “Your version of events started Mbuyiseni Ndlozi are on trial for with ‘the people were not allowed to 4 x 2lt Tubs 12 x 500ml allegedly assaulting a policeman who the ceremony’. It developed to ‘the refused them entrance at the burial vehicle was not allowed into the cere- Variety Flavours Cups Mixed Flavours site of Struggle icon Winnie Mandela. mony because it was not accredited’. The party supporters have been It then developed to ‘even if it was camping outside the court since the accredited you wouldn’t have let it in’. beginning of the trial on Wednesday. It then went to ‘it was not part of the Malema’s hardened attitude to- convoy’,” Hodes said.
    [Show full text]
  • Caught Between a Rock and Hard Place the State of Play for South Africa’S Beleaguered Development State
    11 / 2009 Caught between a rock and hard place The state of play for South Africa’s beleaguered development state Saliem Fakir A brief introduction to the politics financial crisis has brought about an interregnum in The post-Polokwane period heralded a new economic policy thinking. era for the ANC. It hasn’t been called as such but This despite the fact that the Zuma era comes with an internal coup and revolution did take place. a greater emphasis for a developmental state and more For many it brought fears of political and intervention within the economy. economic uncertainty. Zuma had the taint of All the talk of budget restraint and deficits is corruption tagged upon him long before he got forcing a movement to the centre rather than the elected as president. left. It has become a useful excuse to beat leftist The pre-Polokwane era had a distinct etch on tendencies from within the alliance partners. the framing of the economy and the Zuma era was One can always revert to the status quo by saying expected to take a left turn. However, any concrete prudence is needed in the face of a global evdence of this is still to be seen. financial meltdown. Zuma’s rise to power was facilitated through Nonetheless, there is no real policy that one can concerted support from the ANC’s left-leaning distinctly point to for South Africa – a point which alliance partners – the South African Communist will be discussed in further detail later. Party (SACP) and the Congress of South African Trade Unions (COSATU).
    [Show full text]
  • Submission and Executive Summary Submission Submission
    SUBMISSION AND EXECUTIVE SUMMARY SUBMISSION SUBMISSION SUBMISSION OF THE ANNUAL REPORT TO THE EXECUTIVE AUTHORITY To the Minister of Foreign Affairs, Dr Nkosazana Dlamini Zuma; I have the honour of presenting the 2002/03 Annual Report of the Department of Foreign Affairs. 2 3 Annual Report 2002/2003 Annual Report 2002/2003 DEPARTMENT OF FOREIGN AFFAIRS, SOUTH AFRICA DEPARTMENT OF FOREIGN AFFAIRS, SOUTH AFRICA SUBMISSION SUBMISSION Minister of Foreign Affairs, Dr Nkosazana Dlamini Zuma. 2 3 Annual Report 2002/2003 Annual Report 2002/2003 DEPARTMENT OF FOREIGN AFFAIRS, SOUTH AFRICA DEPARTMENT OF FOREIGN AFFAIRS, SOUTH AFRICA EXECUTIVE SUMMARY EXECUTIVE SUMMARY EXECUTIVE SUMMARY BY THE ACTING DIRECTOR-GENERAL OUR DEPARTMENT, IN COLLABORATION WITH OUR SISTER DEPARTMENTS in African region, remained the core focus of our foreign policy. the International Relations, Peace and Security Cluster, has over To give practical expression to our foreign policy objectives the the past year worked extensively in many very important areas priority areas for the Department’s work included: in pursuit of our foreign policy goals. At the same time we have • African Renaissance had to adjust our focus to a global environment that has been – Launch and operationalise the African Union (AU); fundamentally changed by the seminal events of 11 September – Restructure the Southern African Development Community 2001 and the war against Iraq. (SADC) and the Southern African Customs Union (SACU); During the period 2002/03, our foreign policy programmes – Implement the New Partnership for Africa’s Development were aimed at supporting the rapid delivery of basic needs to our (NEPAD); people; developing human resources; building the economy and • Peace, stability and security; and creating jobs; combating crime and corruption; transforming the • Economic development and co-operation.
    [Show full text]
  • Bell Pottinger Faces Sanction Over Secret Gupta Campaign
    Legalbrief | your legal news hub Wednesday 29 September 2021 Bell Pottinger faces sanction over secret Gupta campaign The DA expects a ‘strong sanction’ against the Guptas’ former public relations firm Bell Pottinger, after the party received confirmation yesterday that its complaint against the firm had been upheld. A News24 report quotes DA spokesperson Phumzile van Damme as saying: ‘This means that the UK’s Public Relations and Communications Association (PRCA) professional practices committee has agreed that Bell Pottinger did indeed violate its Professional Charter, and/or its Public Affairs and Lobbying Code of Conduct.’ Bell Pottinger has five days to appeal and a final decision will be published during the week beginning 4 September. The report notes that the DA’s complaint, which was heard last week, stems from the #GuptaLeaks, which revealed how the London-based PR firm assisted the Guptas – after meeting with Duduzane Zuma – to create a narrative meant to discredit the Guptas’ many critics. A report in The Guardian says the PRCA heard allegations that Bell Pottinger sought to stir up anger about ‘white monopoly capital’ and the ‘economic apartheid’ in SA to draw attention away from the wealthy and controversial Gupta family, who have been accused of benefiting financially from their close links to President Jacob Zuma. The report notes the PRCA is considering a range of actions it could take against Bell Pottinger, including terminating its membership of the trade body. Other possible disciplinary options include a formal warning or reprimand..
    [Show full text]