Cyril leads power Team SA at WEF
Delegation puts best foot forward for world investors
DEPUTY President Cyril Ramaphosa is spearheading the South African delegation at the World Economic Forum (WEF) following the major overhaul at Eskom at the weekend, as the country seeks to put its best foot forward to international investors.
The poor performance and management of state-owned entities (SOEs), with a number of key institutions at the centre of serious state capture allegations, has been cited as one of the key contributors to sinking investor confidence, and the Presidency, in its statement on Monday, was quick to point out the steps taken to halt the rot.
“South Africa last week announced a number of measures to strengthen governance and management of its state-owned enterprises,” the Presidency said.
“This is part of an ongoing broader effort to restore confidence in the economy. The government will continue to act decisively to address challenges at its key SOEs to restore public and investor confidence and to ensure they fulfil their economic and developmental mandates.”
On Sunday, a new Eskom acting chief executive, board chairperson and board members were announced by the Presidency in a bid to stabilise the parastatal.
This followed a meeting between Ramaphosa, President Jacob Zuma, Public Enterprises Minister Lynne Brown and Finance Minister Malusi Gigaba, who is also the lead minister for the country’s Davos delegation.
The Presidency said the WEF forum presented South Africa with a platform to showcase its attractiveness as an investment destination and trade partner, set out plans that were unfolding to secure improved and inclusive economic growth, and contribute to efforts to respond to societal challenges globally.
“The team will utilise the opportunity to communicate that South Africa remains open for business and highlight the work that the government, working together with business and labour, is doing to ensure an improved economic outlook and nurturing for a higher economic growth trajectory.”
The statement added that the delegation would also re-emphasise that the country had “a stable and predictable macroeconomic framework which continues to underpin economic policy, ensuring that the country remains attractive for investment”.
Meanwhile, Economic Development Minister Ebrahim Patel expressed shock over Hugh Masekela’s death yesterday. Patel, in Davos for the WEF meeting, and described him as an “icon”.
“What a loss, but what a life,” said Patel. “The word icon is overused but he truly was an icon of South African music and passion,” he added.
The trumpeter, composer and jazz musician, who had prostate cancer, died yesterday morning. He was aged 78.