Johannesburg - South Africa has great growth potential
compared to most countries but people underestimate it, Reserve Bank governor
Gill Marcus said on Wednesday night.
"We have a lot going for us... We have the ability to
be a haven for people who need it," she said at a function in Sandton,
Johannesburg.
"South Africa is a place for real growth opportunity...
and right now in terms of inflows... almost R55bn has come in."
In comparison, Europe was not growing and this could affect
South Africa as 29% of its manufactured goods is exported there. If Europe
stops buying, South Africa suffers, she said.
Proper leadership is needed to maintain and improve South
Africa's growth so as to not follow in the footsteps of Europe and other
declining economies.
"Many people think leadership is a position... or office
or title. It's none of those.
"Leadership isn't someone at the top of the tree.
Leadership is each one of us... when you serve the whole, you serve
yourself."
She noted that a lot needed to done to build the future
citizens wanted for themselves and the country.
"The future is what we envision and what we work
towards," said the governor.
"Yes, we have challenges... but we have created jobs.
It's just not at the level you want."
The more businesses strive for knowledge and skills, the
better South Africa will be.
"The outcome is determined by what we do."
Training and "maintaining" youth was important,
she said, as young people are turned away by employers because they lacked
experience.
"We have to get people working, give them experience
and help them get their foot in the door."
She also said the move by the Reserve Bank to keep interest
rates steady since late 2010 has helped create certainty over its mandate to
balance price stability with economic growth and job creation.
"It's not just a question of raising rates or lowering rates... As you see, we've held rates for a very long period of time, but in our view that has created the greatest certainty around the framework," Marcus said.