Population: 57,7 million (June 2018 estimate).  Exchange rate: 1 CAD = 10.79 ZAR (14 December 2018).  Official Languages: 11.  Landmass: 1 233 404 km².   GDP Rank: 37 th (2016, World Bank).
Population: 57,7 million (June 2018 estimate).  Exchange rate: 1 CAD = 10.79 ZAR (14 December 2018).  Official Languages: 11.  Landmass: 1 233 404 km².   GDP Rank: 37 th (2016, World Bank).

South Africa addressing policy, laws to attract investment

Tuesday, November 20, 2018

President Cyril Ramaphosa says South Africa is addressing policy and regulatory impediments as part of efforts to attract investment into the country.

He said this during a media briefing when he hosted German President Frank-Walter Steinmeier at Tuynhuys in Cape Town on Tuesday.

“How are we increasing that confidence? We have embarked on a process of creating more certainty in our economy in terms of our laws, our policies, or regulations and also how we do things in terms of opening up the country for more investment.

“So we are creating a much more investment inclusive country,” President Ramaphosa said.

He said as South Africa transitions through this phase of “renewal”, investors can rest assured that the country is run under the ambit of the law, in adherence to the Constitution and that government is run in a transparent manner.

He cited how the land reform process was being handled as an example of how transparent State institutions deal with policy matters.

“The land reform process is being conducted in the most judicial (sic) and proper manner, by going through our structures. Parliament is one of those structures and it is going through that; it is being debated by the representatives of the people of South Africa,” he said.

Dealing with corruption to make SA attractive to investors
President Ramaphosa said challenges like corruption were being tackled through forums such as the State Capture Commission and that its efforts to tackle corruption have made the country more attractive to investors.

“We are focusing on the issue of State Capture because state capture is about how we deal with the issue of corruption and this gives us an opportunity as South Africa to see how the world looks at us,” he said.

President Ramaphosa said the State Capture Commission “is an opportunity that investors are looking at to see the extent that we are able to correct our ways, to get rid of tendencies and practices that were completely different from a normal type of clean government that they would have expected”.

“So this commission is almost a cleansing process of all the bad things that have happened in our country and we wish the commission very well in its endeavours as it cleanses South Africa as it brings to the fore the truth of what happened in the past,” he said.

President Steinmeier said the German government was satisfied with the manner in which South Africa was tackling corruption and that his government has been monitoring the events from the State Capture Commission closely.

He also commended South Africa for its efforts to ensure that its judiciary remains independent.

During their bilateral meeting, President Steinmeier told President Ramaphosa that Germany had experienced entrepreneurs, who had accompanied him on his State visit and that they were exploring opportunities for further investment.

Relations between SA, Germany to be strengthened
The last official visit to South Africa by a German President was undertaken 20 years ago by then Federal President Roman Herzog.

This week’s State visit follows a bilateral meeting between President Ramaphosa and German Chancellor Dr Angela Merkel on the margins of the G20 Africa Summit in Berlin towards the end of October 2018.

The meeting reenergised relations between South Africa and Germany and provided the opportunity for President Ramaphosa to highlight the strategic importance of the relationship between the two countries.

President Ramaphosa said the two countries have agreed to continue on efforts to further expand trade and investment between South Africa and Germany.

“Germany is South Africa’s third-largest global trading partner and one of the largest foreign investors, with more than 600 companies operating in South Africa, sustaining approximately 100 000 jobs.

“This provides a firm foundation to grow our economic relationship in line with our effort to significantly increase investment in the country and, as part of the Jobs Summit agreements, to develop our export capacity,” he said.

President Ramaphosa used the State visit to thank the German government for the technical and financial support it has provided to South Africa in areas like health, education, skills development and renewable energy.














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