Big Four Security firms and AGOA threats
Much commentary, debates and discussions have taken place in the public discourse especially in business section of our newspapers of late about the imminent threat of South Africa losing AGOA status or benefits.
What is AGOA?
Formally the US says that the African Growth and Opportunity Act (AGOA) is a Trade Act, enacted on 18 May 2000 as Public Law 106 of the 200th Congress. US Treasury department states that the act has objective of expanding U.S. trade and investment with sub-Saharan Africa, to stimulate economic growth, to encourage economic integration, and to facilitate sub-Saharan Africa's (SSA) integration into the global economy.
To qualify for AGOA, South Africa and other countries of Sub Saharan Africa (SSA) are basically asked to compromise their national priorities and have market based economy that protect and promote private property. In short SSA countries must pursue neoliberal policies
Washington's interests in the Private Security Regulation Amendment Bill