South African business leaders on Wednesday urged President Cyril Ramaphosa to push through reforms faster to lift the economy and curb investment outflows, as executives and policymakers gathered for a continental economic summit.Ramaphosa has promised sweeping reforms, but growth remains below 1 per cent a year and investors dumped 63 billion rands of South African assets this year.
She urged the government to stabilize the country’s fiscal position more quickly and fire officials who had been implicated in serious wrongdoing.South Africa was in a perilous position after this year’s investor outflows, which compare to inflows of around 20 billion rands in the same period last year, said Aarti Takoordeen, the Johannesburg Stock Exchange’s chief financial officer.