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Davies Says Rand Is Main Concern for Manufacturers, Report Says

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Aug. 10 (Bloomberg) -- The strength of South Africa’s rand is the single biggest concern for the nation’s manufacturers, Business Report said, citing Rob Davies, the minister of trade and industry.

Manufacturers are also concerned about the level of government and utility-set prices and the number of strikes, the Johannesburg-based newspaper said, citing the minister.

The application to review South Africa’s approval of Wal-Mart Stores Inc.’s purchase of a controlling stake in Massmart Holdings Ltd. is to protect the manufacturing industry, even at the expense of the consumer, the newspaper said, citing Davies.

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To contact the editor responsible for this story: Alastair Reed at areed12@bloomberg.net

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