April 12, 2017 / 9:39 AM / 2 years ago

Investors want ANC to explain "radical economic transformation" - S.African finmin

JOHANNESBURG, April 12 (Reuters) - South African investors want the ruling African National Congress to explain in detail what “radical economic transformation” as stated by the government in recent speeches means, Finance Minister Malusi Gigaba said on Wednesday.

“The sense from the investors is we need to explain in detail what we mean by radical economic transformation ... we don’t want to create a disjuncture between growth and development,” Gigaba said.

Speaking to local investors at the Development Bank of South Africa, Gigaba said treasury will unveil plans to deal with downgrades from S&P Global Rating and Fitch after a special cabinet meeting scheduled to take place later on Wednesday. (Reporting by Mfuneko Toyana; Writing by Nqobile Dludla; Editing by James Macharia)

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