President Cyril Ramaphosa’s fourth investment conference felt like South Africa was a country with no daunting problems and a parallel universe in which everything, from the economy to service delivery, functions smoothly.
But Finance Minister Enoch Godongwana, who was long the ANC’s economic policy wonk, injected a dose of reality into Ramaphosa’s investment conference. After all, he knows an uphill battle when he sees one. Hanekom says the social unrest in July last year was a “blow to investor confidence” and the absence of prosecutions for the perpetrators of the violence makes it difficult to sell the South Africa investment story. The rule of law and prosecution of wrongdoers are important considerations before investors commit their capital in any country.
A cynic might say that Godongwana and Hanekom are stating the obvious or that corruption and crime can hardly be spoken about in the past tense. But at least they are being straightforward about such issues.On the bright side, Godongwana has highlighted the government’s recent progress with pro-growth and investment structural economic reforms in the energy, digital economy, and transport and logistics sectors.
This is in reference to the government’s plans of splitting Eskom into three units , as well as allowing private players to generate electricity for their own needs of up to 100MW. He also noted initiatives to improve the efficiency and competitiveness of South Africa’s ports by involving private sector players. Godongwana conceded to the widely shared criticism that the government was not moving fast enough on structural reforms.
Discovery CEO Adrian Gore offered an upbeat note at the conference, saying the narrative about South Africa was too negative. For investments and the country to thrive, the narrative needs to be more positive, says Gore. “The investment opportunity tactically is that the narrative is much worse than the reality and if you are an astute investor that … is where you can make super-profits. The narrative here is continuously negative. But the country is more resilient than people think.
Because of ANC policies & power of labour unions
ALETTAHA Because? ANC.
Only a few days left to help Emma Bateman, co-chair of Green Party Women, make a legal challenge to the Green Party (England & Wales). It could clarify the legal situation for all other parties which are repressing women's voices.
It depends where government is investing to lure the investors. Port of Ngcura outside Gqeberha is a prime example of a project attracting foreign investment. Foreign investment in the port is really taking off. Good to see. investment sapolitics gqeberha coega ngcura
Policies and political instabilities maybe
🙄 I wonder why it's a hard sell.
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