EDITORIAL: Investment pledges? No, business needs electricity

If local and foreign companies are falling over themselves to pour money into SA, as President Cyril Ramaphosa told everyone at his investment conference last week, then why is growth stuttering along at less than 2%? And why has the unemployment rate set increasingly grim new records since he launched his annual shindig four years ago, even as Covid has waned?

And if SA’s investment climate is as ripe for the picking as Ramaphosa’s coterie of advisers suggest, why are two local businesses of long standing closing or relocating precisely because of a business environment they feel is wholly unsupportive? These realities suggest that the investment pledges Ramaphosa speaks of are largely political hot air — money that would have been spent on sustaining operations anyway, particularly in the case of the mining sector, where companies such as Impala, Anglo and Exxaro have long-term budgets for mines with a life of 20-plus years.

What Ramaphosa should be giving industry, rather than academic investment pledges, is simply more electricity.

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EDITORIAL: Investment pledges? No, business needs electricityThe lack of available power is probably the single largest cap on SA’s growth Good article. Pity you were part of his praise singing fan base at the last election
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Rand West municipality owes Eskom over R700-million - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Rand West Local Municipality owes Eskom more than R700 million for electricity. The municipality says residents and big businesses are not paying for services and this is impacting service delivery. Im willing to be an errand boy, a gardener or any form of odd job just to feed my children🙏🏾. They've been going to school and back on an empty stomach and that cripples me as a father. I humbly ask for any tinned food or grocer you don't need🙏 RandLocal Take lessons from CityTshwane. Disconnect those people and businesses, and you'll see how quickly they pay. Unless you are lying and the cadres looted the funds for themselves? How did your audit go? Not sure if Eskom sells or loans electricity 🤷🏿‍♂️
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Market Watcher: Market optimistic but cautiousChantal Marx of FNB Wealth and Investments discusses the possible truce between Russia and Ukraine, what labour data reveals about business confidence, Absa's new CEO, and Thungela's fraud warning.
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