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Mboweni’s Plan For Saving South Africa Faces Labor Opposition

  • Ruling ANC’s labor, communist allies oppose power-plant sale
  • More talks planned to try and reach economic policy consensus
Tito Mboweni
Tito MboweniPhotographer: Waldo Swiegers/Bloomberg

South African Finance Minister Tito Mboweni’s most contentious proposals for reviving the economy encountered opposition at a meeting of the ruling African National Congress’s top leadership and further talks are planned, according to people familiar with the discussions.

Labor union and South African Communist Party officials who sit on the ANC’s National Executive Committee were especially critical of Mboweni’s suggestion that state utility Eskom Holdings SOC Ltd. sell some power plants because they were worried about job losses, said the people, who asked not to be identified because they aren’t authorized to comment.