The share price of Glencore plc has seriously dipped in the past 48 hours in South Africa, this was made known by Brian Molefe the Chief executive officer of the company. This decline started on Friday.
Glencore debilitated 0.44 percent to R58.24 as Molefe got into a sticky situation on Friday, blaming it for utilizing President Cyril Ramaphosa’s political impact to score rewarding agreements at the force utility.
Molefe said Glencore set out on a politically spurred move to join forces with Ramaphosa, who was then ANC’s representative president, and delegated him administrator of its auxiliary, Optimum.
“They offered 9.64 percent to Ramaphosa, a political heavyweight, and made him administrator of the new organization,” Molefe said.