No-shows disarm president’s critics

Ramaphosa has ensured that his detractors cannot blame him for ignoring his domestic agenda

DESPITE facing criticism for skipping two important investor summits that could have helped the country to deal with its economic challenges, some analysts and economists believe President Cyril Ramaphosa saved himself from his detractors by staying in the country.

Ramaphosa was supposed to attend the UK-Africa Investment Summit in London yesterday and then today proceed to Davos to attend the 2020 World Economic Forum.

Both summits would have allowed Ramaphosa to send a message to the global investment community that while South Africa faces challenges of weak economic growth and fiscal pressures, the country remains one of the best investment destinations in the world.

Despite Ramaphosa’s absence, the Treasury issued a statement late on Sunday and said that the message would be relayed by Team SA, which was led by Finance Minister Tito Mboweni.

The Treasury said Team SA would highlight the strides being made to implement structural reforms to ignite economic growth; ease the cost of doing business; curb government debt; and stabilise State-Owned Enterprises (SOEs) like the debt-soaked Eskom and under business rescue SAA.

Economist Professor Bonke Dumisa said it would have made sense for

Ramaphosa to attend the London summit, but by skipping he did not do much damage to the country’s economic ambitions.

Dumisa said the British would use the summit to relay their message about future trading arrangements with African countries after exiting the EU on January 31.

“It would have been good for the president but his absence is not going to detract anything. The primary reason for that gathering is for the UK to resell itself to African countries to say ‘we are now going for Brexit’ and this is what we will be offering you. It’s more for their repositioning,” he said.

Political analyst Xolani Dube, from Xubera Institute, said Ramaphosa saved himself a great deal by skipping the summits.

He said concerned investors would have asked him questions about divisive issues such as the ANC’s calls to nationalise the SA Reserve Bank and the land issue.

Dube said Ramaphosa would have likely contradicted the ruling party’s stance while trying to assure investors and that would have armed his ANC enemies.

He added that it was a smart move for Ramaphosa to send ministers like Mboweni to Davos and Naledi Pandor to the UK as it saved him from burning his fingers.

According to Dube, both ministers are not beholden to any factions in the ruling party and are widely respected.

Additionally, Dube said most of these international gatherings had not yielded much for the country and Ramaphosa’s presence was of no significance.

Dube’s views on the end results of this summit were echoed by independent political analyst Ralph Mathekga, who said Ramaphosa did not cost the country much by staying behind, because these summits were all about pledges by investors.

“What is he going to achieve there? Another pledge of investment whereas the problem here is the stumbling block to some of the key decisions that need to be made in the public service…

“His time is better spent working the politics at home to make sure that his agenda, whatever it is, comes to fruition,” he said.