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Ramaphosa: We're addressing concerns around policy uncertainty

Feb 07 2019 19:26
Jan Cronje

President Cyril Ramaphosa said on Thursday that his government was addressing concerns around policy uncertainty and inconsistency. 

The president was delivering the State of the Nation Address in Parliament on Thursday.

Last year a number of stakeholders raised their concerns about policy certainty and inconsistency in our country, he said. "We have addressed these concerns and we continue to engage those stakeholders who raise concerns about our policy direction." 

The president said that South Africans were working together to remove constraints to inclusive growth and to pursue far greater level of investment. 

"We have focused our efforts much more on reigniting growth of our economy and creating jobs," he said. 

In April 2018, the president announced an ambitious five-year plan to attract $100bn in new investment into SA. He later appointed four investment envoys to travel the globe and drum up interest in SA's economy. 

The team included former finance minister Trevor Manuel, former deputy finance minister Mcebisi Jonas, businesswoman Phumzile Langeni, and retired Standard Bank CEO Jacko Maree.

He organised an Investment Conference in October to woo investors, which garnered nearly R290bn in investment pledges.

PwC later published a report estimating that pledges made at the conference could create and sustain 165 000 direct and indirect jobs over five years, but noted that its analysis was based on the assumption that all investment pledges would be forthcoming.

Earlier this week, the Sunday Times reported that five countries had written a memo to Ramaphosa about the need to eliminate regulatory uncertainty, protect investments and prosecute those implicated in corruption, eliciting an angry reaction from the ANC. 

The five diplomatic missions later met with the diplomatic missions. 

    sona2019  |  cyril ramaphosa  |  investment  |  sa economy
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