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South Africa Sends Wrong Message to Business, Banking Group Says

South Africa’s government isn’t doing enough to promote business and encourage investment, undermining efforts to grow the economy and create jobs, the head of the country’s banking association said.

“I don’t think that either the messaging or the proposed regulations actually promote robust business growth,” Cas Coovadia, managing director of the Banking Association of South Africa, said Wednesday by phone from Gaborone, Botswana’s capital. “Business and government need to come to some sort of understanding ideologically, more than anything else, to address the myriad of problems we have got in the country.”