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The last few years have seen a lot of consolidation in Gulf financial sectors. Not only do these mergers create economic benefits, the merged entities also become potent tools for economic development. The mega-funds and other major financial institutions are part of a trend where Gulf political elites sidestep ossified bureaucracies and instead centralize power in private entities over which they have even more control.
Madame Speaker, thank you so much for giving me this opportunity to deliver the Tenth State of the Province Address as the Sixth Premier of the Province of Gauteng.