Cyril Ramaphosa's goal to woo foreign investment yields success

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Cyril Ramaphosa's goal to woo foreign investment yields success.

President Cyril Ramaphosa's plan to attract foreign direct investment appears to be working as the country last year raked in R70-billion.South Africa’s foreign direct investment more than doubled in 2018 to reach its highest in five years, the central bank said on Wednesday, giving a boost to President Cyril Ramaphosa’s pledge to woo investors to help revive a struggling economy.

Africa’s most industrialised economy has barely grown in the past decade with fiscal missteps and corruption contributing to weak business and consumer confidence. South African Reserve Bank said in its quarterly bulletin that foreign direct investment inflows rose to R70.7-billion in 2018 from R26.8 billion the prior year.

The FDI inflows were the highest since 2013, when the country recorded investments of R80.13 billion. SARB’s balance of payments unit head Piet Swart said the higher inflows could be attributed to a more positive investor environment in 2018.

 

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When are we discussing this stupid Foreign Direct Ivestment thing during apartheid?

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