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HILARY JOFFE: SA sending signals it does not want foreign investments

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Competition Commission's decision to turn down Sasol's sale of cyanide unit is based on dubious grounds

It went relatively unnoticed, but the Competition Commission’s decision this week to block the purchase of an SA business by a foreign company will again raise questions about whether SA really wants the foreign investment it claims to want, and whether our competition regulators really want to achieve a more competitive economy.

The commission prohibited the sale of Sasol’s cyanide business to Draslovka, a Czech company that is one of the world’s leading producers of cyanide. Gold miners need cyanide to get the gold out of the ore. The commission prohibited the deal on the basis that it would result in an increase in the price of cyanide post-merger.

 

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Foreign Investment is just a fancy name for cheap labour

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