Ramaphosa defends investment ‘hunters’
“Nothing elitist about job-creating drive”
President Cyril Ramaphosa has told parliament that stateowned companies have committed to investing more than R420-billion in the economy in the next five years.
He was responding to concerns raised by opposition parties during his budget vote debate in the National Assembly on Wednesday. He has also rejected criticism by EFF leader Julius Malema‚ who slammed the newly formed investment team as nothing but the reincarnation of the “1996 class project”.
“The 1996 class project” is a term used in political circles to refer to the economic policies introduced by the ANC shortly after it came into power‚ which were slammed as too elitist and not in the interest of the poor.
The investment team set up last month comprises‚ among others‚ former Standard Bank CEO Jacko Maree and former finance minister Mcebisi Jonas.
But Ramaphosa has rejected the criticism‚ saying the investment team was already doing good work for the country and has helped unlock investment opportunities to the tune of billions of rand in the next five years.
“We have had several meetings with the CEOs of some of this country’s larger stateowned companies‚ where they have given us an indication of their investment plans over the coming years.
Turning to the thorny issue of land reform, Ramaphosa accused Malema and DA leader Mmusi Maimane of playing “strawman politics”. He said they had both deliberately distorted the stance of the government on the issue of land.