The formation of South Africa’s business-friendly coalition government has triggered a wave of investment announcements and positive sentiment not seen in years, spurring hope that Africa’s biggest economy may finally be finding its footing after a lost decade and a half.
Within days of the coalition agreement in early July, ArcelorMittal SA reversed a decision to shutter two steel plants that support 80,000 jobs. Soon after, Qatar Airways bought a stake in South African airline SA Airlink Pty Ltd. A $70 million auto-parts facility to supply Toyota Motor Corp., which just three years ago said it might leave the country, has since opened and Anglo American Plc announced a $625 million iron-ore investment.
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