SA 'on a roll' at Davos, says upbeat Ramaphosa

Cape Town - Investors at the World Economic Forum are feeling positive about the developments in South Africa, according to Deputy President Cyril Ramaphosa.

Ramaphosa was giving feedback to the government communications department on a forum about South Africa on Wednesday.

The deputy president told Cabinet ministers as well as current and potential investors that the country is on a path of renewal. “We informed them South Africa is open for business,” he said.

“We are now on a path of renewal, on a path of uniting our people. We are uniting business, government, labour and communities on key issues the country must address such as unemployment, inequality and the question of poverty,” he said.

The reception from investors has been positive, he said. “Everyone is feeling very positive of our country now.”

He also mentioned that the recent strengthening of the rand to below R12 to the dollar has reinvigorated confidence. “It is seen as a great boost for the economy of our country,” he said. “We are on a roll, we are on a very positive roll here at the WEF.”

Uncertainty, both political and regulatory, is being addressed “in a very positive way” in order to draw more investment, he explained.

Ramaphosa said corruption is one of the other issues which was raised, and he assured investors that it is being dealt with.

He added that investors are also curious about the leadership transition, with President Jacob Zuma leading the country and Ramaphosa the ANC. “That is being managed, and that is being managed well,” he said.

The SABC reported that on a previous engagement at a business dinner on the sidelines of WEF, hosted by Brand SA on Wednesday, Ramaphosa told guests that the ANC elective conference has “infused a lot of confidence” among South Africans and those on the continent.

“The country has regained wonderful stature, nationally and globally,” he said.

Reserve Bank governor Lesetja Kganyago, who is also in Davos, told Bloomberg TV in an interview on Wednesday that South Africa is in a better space than it was when the previous ratings actions took place. He added that corruption is being dealt with.

“Corruption and misrule will soon be history,” said Kganyago.

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