Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Zuma to get French pomp

Mar 01 2011 12:19 Sapa-AFP

Related Articles

France scales back G20 ambitions

SA to sign €1bn deal with France

Sarkozy hosts SA unionists

SA formally joins the BRIC

'Joining Bric gives SA leverage'

SA enjoys new status at Davos

 

Top Stories

Cell C move sparks price war

May 27 2012 11:21

There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.

Another golf estate victim

May 27 2012 13:09

The oversupply of golf estates has claimed another victim.

MyCiti buses running at a loss

May 28 2012 07:53

The City of Cape Town has spent R175m running the Myciti bus service since the 2010 Soccer World Cup, compared to an income of R35m, a report says.

 
Share Share line Print
Paris - President Nicolas Sarkozy will welcome Jacob Zuma to France on Wednesday as a leader of an emerging great power and a key player in Paris' plan to use its G20 presidency to reform world finance.

Sarkozy holds the rotating presidency of both the G8 and G20 power groups, and President Zuma leads the newest member of the influential Brics, the fast-growing economies of Brazil, Russia, India, China and South Africa.

As such his English-speaking giant will be greeted with full state honours, in a capital whose African relations have traditionally rotated around client state and oil producers in former French colonies.

Sarkozy is determined that his G20 legacy will be to reform the world financial and trade system to iron out the imbalances that led to the recent global economic catastrophe, and he needs Bric support.

He has put development aid and a world tax on financial transactions at the heart of his ambitious programme to win the emerging nations' backing for his market and exchange rate regulation plans.

And by courting English-speaking countries like South Africa and Nigeria, he hopes to kill off France's reputation as only being interested in those parts of Africa dominated by French companies and murky influence networks.

Zuma, who has visited France three times since 2008 and was guest of honour at last year's France-Africa summit, will therefore enjoy all the pomp that Paris can muster, including an escort by the famous Republican Guard.

He will be hosted at a state dinner by Sarkozy on Wednesday, and hold meetings with Prime Minister Francois Fillon, the speakers of both French parliamentary chambers and the mayor of Paris.

The leaders will discuss the G8-G20 agenda and the wave of revolutions sweeping the Arab world, but also the many crises troubling Africa in countries where regional giant South Africa holds much sway.

Aside from political crises in Sudan and Madagascar, Sarkozy will address the stand-off in Ivory Coast, where France has lost influence over Laurent Gbagbo and fears that his refusal to step down will plunge the country into civil war.

The bulk of the countries of the African Union, along with the broader international community, argue that Gbagbo lost last November's presidential election and should step down in favour of rival Alassane Ouattara.

But the response of South Africa and Angola has been less clear-cut and Zuma favours a compromise solution. This enrages Ouattara's supporters, who chanted "Zuma thief!" at him as his visited Abidjan last week.

"We haven't abandoned hope of changing his mind," a French official said. "Let's not exaggerate South African influence, but it would be a hard blow for Gbagbo if Pretoria took a clear position against him."

Of course, alongside the international agenda, both countries hope such a high-profile visit will strengthen bilateral economic ties.
"A major objective of the visit is to strengthen trade and investment ties with France, and to address the challenge of the significant trade deficit that exists," a South African official said.

France is the sixth-largest supplier of South Africa's imports, but only the 19th-biggest destination of its exports.

France supplied South Africa with its only nuclear power plant, in Koeberg, and state-owned energy giant Areva is keen to supply two of its new generation EPR plants to plug South Africa's yawning electricity gap.

But no contracts are expected to be signed this week. "South Africa is reviewing its entire energy strategy, so there won't be any decision on this matter," a Sarkozy aide admitted.

Nevertheless, France does expect to sign a new partnership framework agreement, which foresees a billion euros in investment in South Africa by the French international development agency.
 

 
 
Comment on this story
11 comments
Add your comment
Comment 0 characters remaining
It pays to know the cost and what you’re getting in return
May 28 2012 09:33

Investors may not have a clue what they’re paying their money managers or they type of service they’re getting, or, whether they can actually negotiate lower fees. (Reuters)

SageGroup

By Saul Symanowitz: Divisional Director, BEE 123 by Pastel   SMEs and BEE Whilst there is no universal definition for what constitutes an SME (Small and Micro Enterprise),for BEE  purposes most SMEs would be classified as EMEs (businesses with a turnover of below R5 mil pa) or QSEs (busin... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...