Regardless of whether any memorandum was actually signed, reports of it alone and Pretoria's harsh response to them underscore how key investor countries are closely watching South Africa as it attempts to put two decades of corruption and mismanagement behind
But though the country is keen to court foreign investment, approaching elections threaten to complicate these efforts. This conflict between short-term political successes and longer term economic improvement is likely to continue — meaning the ruling ANC will struggle to appear business-friendly without alienating voters by exposing corruption at the highest levels.
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