South Africa must seize on optimism around growth prospects – Davies
South Africa's Minister of Trade and Industry Dr Rob Davies said on Wednesday there was optimism around the country's growth prospects, partly helped by a more stable political outlook after the ruling ANC's December conference.
Davies, who is in Davos, Switzerland, as part of the South African delegation to the World Economic Forum (WEF), told the African News Agency (ANA) in an interview that there is "improved investor sentiment and our task now is to build on that".
He cited two key contributing factors, the first being a higher level of growth in the world economy as part of a cyclical upturn.
"This won't resolve our problems, or issues, but will mean the external environment is less challenging, less difficult," he said.
"Secondly, we have gone through the ANC (African National Congress) conference, and there is an outcome and there is an optimism that results from that, and I think the political stability issue is looking more positive.
"There are signs that there is improved investor sentiment and our task now is to build on that."
The ANC's December conference elected former businessman and South Africa's deputy president Cyril Ramaphosa to lead the party, a move largely cheered by local and foreign investors.
Davies cautioned, however, that the optimism would not automatically "translate into higher levels of investment, or indeed, the structural changes we need to bring about in our economy in terms of moving towards more value added activities".
"But it creates an environment in which we can actually channel more effectively our efforts to deal with challenges of creating more jobs and creating more investment in order to move our economy forward," he said.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation