Cyril’s investor conference ‘likely to pay dividends’

Efforts by President Cyril Ramaphosa to turn around South Africa’s failing economy are likely to pay dividends, both politically and economically, an expert has said.

Professor Susan Booysen, director of research at Mapungubwe Institute for Strategic Reflection, says Ramaphosa’s moves since he came to power eight months ago, aimed at rescuing the economy from the doldrums it’s currently in, could have great spin-offs for the economy.

“It may not be an earthquake, but it’s sure going to make a difference,” she said.

Booysen was reflecting on the prospects for the SA Tomorrow Investor Conference scheduled to take place at the Sandton Convention Centre starting today and ending on Sunday.

International and domestic investors, local business and various stakeholders are set to attend the indaba.

Buoyed by the recent successful jobs summit, Ramaphosa this week promised that investors would make pronouncements on the investments they would make in South Africa.

Earlier, as part of his attempt to lure foreign direct investment, Ramaphosa appointed eminent persons as investment envoys to raise R1.2 billion investment in the next five years.

Booysen said there is hope that things would work out well for Ramaphosa and that the investment conference would serve as an indicator for that.

“The mobilisation and motivation plays some role to show that there is a political will to change the economic environment. There is so much mobilisation of political and economic energy, the government is looking beyond its own sources to turn things around.”

She added: “South Africa can’t lose by doing this, this is likely to make things better. It’s not going to be an earthquake but it’s definitely going to make a dent.”

Another political analyst, Professor Theo Venter, said it was necessary for South Africa to have this conference but in order for the investment route to be smooth, the governing ANC needed to put its house in order.

He said the allegations of corruption against the party’s secretary-general Ace Magashule could impact negatively on investors.

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