Mandela Dream Fades With a Quarter of South Africans Jobless

- 27 March 2012

Peter Leon, a partner at Webber Wentzel was quoted in an article on Bloomberg that reviewed the economic climate over the past 18 years in South Africa, the current unemployment rate and the threat on investment from mine nationalisation talks in light of Nelson Mandela’s legacy.

Leon commented that the ANC’s recommendation to impose taxes on mining companies, levies on prospecting rights and further taxes on companies based in offshore tax havens are “very intrusive measures” and that the government and ANC will have a “big job on their hands” to convince investors that South Africa is a safe country to invest in.

- Bloomberg