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Home » In the wake of the World Bank’s inequality report, the ANC affirms its economic
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In the wake of the World Bank’s inequality report, the ANC affirms its economic

newsnote correspondentBy newsnote correspondent7 August 2024No Comments7 Views
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The South African rand strengthens to R17.11 against a softer US dollar as weak American jobs data fuels expectations of a Federal Reserve interest rate cut in December.
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The ANC insists that its economic policies are still relevant, but recognizes that poor implementation has hampered its goals to improve South Africans’ quality of life.

This declaration comes as the World Bank considers South Africa the world’s most unequal society, with unemployment approaching crisis proportions. Mamoloko Kubayi, the ANC’s Economic Transformation Committee Chair, addressed the problem at the conclusion of the party’s National Executive Committee Lekgotla in Boksburg.

“The challenge has been the direct implementation of those ideas, and the ANC has accepted that we have never lacked in terms of policy. What we are seeing is the expansion of the population between the 1996 first Census and 2022, with an additional 20 million,” he said.

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