Siyabonga Hadebe | AngloGold Ashanti digs Africa a big economic hole

The mismanagement of African capital by non-patriotic white managers in South African companies continues unabated.

The state-owned Public Investment Corporation (PIC) has been a major shareholder in companies like SAB, Naspers and AngloGold Ashanti Limited, all of which chose to leave our shores and take billions of US dollars with them. Despite its power, the PIC is a lame duck in the pervasive neo-colonialist idea of economic punishment and permanently crippling South Africa and the continent.

The latest saga involves AngloGold Ashanti, a company built on the sweat of black workers in both Ghana and South Africa, which has also decided to join a long queue of companies leaving the continent for overseas.