South Africa to target investment, graft under new ANC leader
EAST LONDON, South Africa: South Africa wants to attract foreign investors to help it kick-start economic growth and eradicate poverty and will crack down on corruption, the new leader of the ruling African National Congress said yesterday.
Cyril Ramaphosa, who won the tight race to succeed President Jacob Zuma as ANC leader last month, also said that he would make fighting corruption a priority in a speech to mark 106 years since the founding of Africa’s oldest liberation movement.
South Africa’s economy has slowed to a near-standstill during Zuma’s two presidential terms, as allegations of influencepeddling in government and mismanagement of state-owned enterprises have dented consumer and business confidence.
But Ramaphosa’s election win has injected a sense of optimism that the ANC, which has governed South Africa since the end of apartheid in 1994, could win back the trust of voters and investors disillusioned with Zuma’s rule.
“South Africa is open for investment and we invite all investors from all over the world to come to South Africa to invest in our country so that we can grow our economy, create jobs, end poverty,” Ramaphosa told tens of thousands of cheering ANC members in a stadium in the Eastern Cape province.
“We must have an economy that offers policy certainty and addresses areas that inhibit investment, growth as well as social inclusion,” said Ramaphosa, 65, a former trade union leader and one of the country’s wealthiest businessmen.