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South Africa Bank Chiefs Meet ANC Officials Over Economic Policy

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April 24 (Bloomberg) -- Chief executive officers and senior leaders of South Africa’s biggest banks met officials from the ruling African National Congress for talks over economic policy, the Banking Association of South Africa said.

“It was a closed, private meeting yesterday with the economic policy committee of the ANC,” association Chief Executive Officer Cas Coovadia said in a telephone interview today. The Johannesburg-based industry body represents the interests of banks, including Standard Bank Group Ltd., Absa Group Ltd., FirstRand Ltd., Nedbank Group Ltd. and Investec.

“We were giving our input into the ANC’s economic transformation policy document,” said Coovadia. Similar meetings will be held in the future, he said, declining to give details on the talks or who attended the meeting.

Enoch Godongwana, head of the ANC’s economic policy committee, did not respond to calls and text messages sent to his mobile-phone today. The CEOs wanted to raise concerns over the ANC’s economic policy discussion documents, Johannesburg-based Business Day reported, citing a person familiar with the meeting.

To contact the reporter on this story: Sikonathi Mantshantsha in Johannesburg at smantshantsh@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

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