On Wednesday, Alan Mukoki, the chief executive of the South African Chamber of Commerce and Industry , said the violence would damage confidence significantly.
“This level of uncertainty creates a problem for anyone wanting to invest. The people who are building malls, for instance, take a long-term view,” he said. “If you don’t know what the long-term view is now, you might not want to invest.”, total fixed investment activity has been weak and patchy since the global financial crisis.
Intellidex chairperson Stuart Theobald agreed that the prevailing unrest was damaging investor sentiment. Structural reforms, as well as economic tailwinds such as strong commodity prices have supported the investment case for South Africa. “So for sure, this will damage confidence — not only domestic consumer confidence in the system. But I think from an international investor confidence perspective, this is a very damaging event.”added, “but I think the government’s rather muted response is also of concern”.
“That’s what we are seeing on the reform side as well. The problems are there. The problems are big. And the reform effort is in the right direction, but it has been slow.”
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