Sibanye’s Froneman calls for SA president Jacob Zuma to quit

SIBANYE Gold CEO, Neal Froneman, believed it was time for South African president Jacob Zuma to relinquish power as governance issues were deterring investment.

In an interview with Bloomberg News, Froneman said: “Any solid investor, any solid company is founded on good governance and what we have in South Africa at the moment is very poor governance, from a government point of view”.

Froneman joins a “growing chorus” of South African business leaders criticizing the president’s stewardship of the economy, said Bloomberg News referring to comments by Sipho Pityana, chairman of AngloGold Ashanti Ltd. who last week said Zuma had “no integrity” and his actions are putting South Africa at risk of a credit-rating downgrade to junk.