With the Investment Summit that took place earlier this month and our new Finance Minister having delivered a tough Medium-Term Budget Policy Statement (MTBPS), this is a significant time for the South African economy.
It has been another tough year for South African business. The euphoria around the change of political leadership diminished rapidly following an announcement that the Constitution may be amended in order to allow for easier expropriation of property without compensation, casting doubt on the future security of commercial assets. This naturally served as a significant constraint to further investment and expansion.
The Zondo Commission has done a sterling job of uncovering the rot that was state capture, however, it will only lead to further loss of confidence if there are no consequences for the guilty. It is incredible that obviously guilty parties have simply been redeployed within national government as we are expected to believe that they simply did not know what was happening under their watch. If we are serious about attracting any form of investment, the rule of law must be respected, and it is absolutely critical that the guilty face harsh consequences for their corrupt actions. This is not negotiable if we have any hope of rebuilding trust between government and business.
The rebuilding of trust between business and government is key to transforming the South African economy. The damage done by the Zuma regime cannot be ignored and despite the lip service given by the current regime to rooting out corruption, we are yet to see any of the guilty actually suffer the consequences of their actions. Companies and brands have been destroyed as a result of unethical practice by some of their executives who supported state capture, but the politicians and senior officials implicated in this mess are simply assigned different posts.
In addition to the loss of trust, we also have significant challenges resulting from the culture of acceptable incompetence that currently pervades our public sector. Ministers and their entourage of loyal officials are deployed to portfolios because of their political clout and not because of any ability to actually add value in those roles. Consequently, we have seen the persistent degradation of our education system, our SOEs, the revenue generating capability of our tax system, and our ability to look after the most vulnerable members of our society.
Local companies can simply not justify continued investment under these circumstances and foreign investors are unlikely to invest in a country where even the local investors are not showing high levels of confidence. Whilst many large companies will claim to be supportive of the investment drive, this is often due to national government being a key source of revenue for them. The reality is that many companies are actively seeking offshore assets as business confidence continues to decline.
There has been much fanfare from the President’s investment envoys about the ‘pledges’ of investment that have been secured globally, but we should perhaps keep the champagne on ice until those pledges are converted into tangible projects that benefit South Africans and create local jobs. The reality is that capital flows to where it can most easily replicate itself, with the least possible risk. It really is as simple as that – there is no sentiment or emotion involved in these considerations. There are far worse atrocities happening around the world right now than anything we experienced twenty years ago. South Africa is not special, global capital does not care that we still suffer the consequences of Apartheid, and nobody is coming to save us from ourselves.
It would be wise to keep this in mind as we welcome potential investors to our country. Are we desperate enough to grab any investment, even if it is unethical and damages international relations? Arms deals with countries facing international sanctions, or mining deals that destroy our environment and natural heritage spring to mind. Whilst government scrambles over local companies to woo foreign investors, it is important to remember that any foreign company investing in SA is doing so in order to exploit a commercial opportunity, not because they care about the plight of unemployed South Africans or our levels of inequality or poverty. They are coming here to drive shareholder value for themselves and we need to be tough negotiators – willing to fight for a better deal for our country rather than desperate to drive up investment numbers in support of political rhetoric.
Ultimately, our future economic prosperity will require government to do a lot more than host an occasional summit. These are great for generating PR but do little to actually shift the needle on economic growth. We need to restore trust with local companies – those that have already been invested in this country for decades. That can be done if government demonstrates decisive action to clean up SOEs, to punish the guilty implicated in state capture, to push back against populist sentiment with disciplined fiscal policy, and to provide policy certainty with respect to issues such as land reform. Until then, summits and commissions will do little to win back the confidence of local investors.
About Accelerate Cape Town: Accelerate Cape Town is a business leadership organisation aimed at voicing the views of corporate business in the Cape Town city region in order to advance and implement sustainable, inclusive economic growth. For more information about Accelerate Cape Town, visit: www.acceleratecapetown.com
I don’t know if it’s just me or if perhaps everybody else
encountering issues with your site. It appears as if some of the text within your posts are running
off the screen. Can somebody else please comment and
let me know if this is happening to them too? This could be a problem with my web browser because I’ve
had this happen before. Cheers
Hi there are using WordPress for your site platform?
I’m new to the blog world but I’m trying to get started and create my own. Do you
require any html coding knowledge to make your own blog? Any help would be really appreciated!
I am really enjoying the theme/design of your website.
Do you ever run into any browser compatibility problems? A handful of
my blog readers have complained about my blog not working correctly in Explorer but
looks great in Chrome. Do you have any suggestions to help fix this problem?
Outstanding post however , I was wondering if you could write a litte
more on this subject? I’d be very thankful if you could elaborate a little bit more.
Thank you!
Hi everyone, it’s my first pay a quick visit
at this web site, and post is genuinely fruitful in support of me, keep up posting these posts.
I blog often and I seriously thank you for your information. This
great article has truly peaked my interest. I am going to book mark your blog and keep checking for new information about
once a week. I opted in for your RSS feed too.
My partner and I stumbled over here different web address and thought
I should check things out. I like what I see so now i am following you.
Look forward to looking into your web page again.
Hello, i think that i saw you visited my blog so i came to
“return the favor”.I am attempting to find things to
enhance my website!I suppose its ok to use some of your ideas!!
I have read so many posts about the blogger lovers but
this piece of writing is truly a pleasant article, keep it up.
Great work! That is the kind of information that are supposed to be shared around the web.
Shame on the seek engines for not positioning this put up higher!
Come on over and discuss with my website . Thanks =)
I do not know whether it’s just me or if everybody else experiencing problems with your site.
It appears like some of the written text in your content are running off the screen.
Can somebody else please comment and let me know if this is happening to them too?
This might be a problem with my internet browser because I’ve had this happen previously.
Thank you
This is very interesting, You are a very skilled blogger.
I have joined your rss feed and look forward to seeking more of your fantastic post.
Also, I’ve shared your web site in my social networks!
Excellent blog here! Also your site loads up very fast!
What web host are you using? Can I get your affiliate link to your host?
I wish my website loaded up as fast as yours lol
I’m gone to convey my little brother, that he should also go to see this webpage on regular basis to get updated
from latest information.
Very nice article, just what I needed.
I pay a visit day-to-day some blogs and information sites to read content, however this blog offers
feature based writing.
After all bbets have been made, the dealer will play their
hand and finish all bets.
my wbpage … Online Casino
I was very happy to uncover this site. I wanted to thank you for your time due to this fantastic read!! I definitely really liked every bit of it and i also have you saved to fav to check out new things in your website.
It follows the regular esports format with two
tams of five players competing against one particular yet
another.
Feel free to visit mmy site: Korea Sports Gamble Site
You can find out a lot more in our Support and Assistance section additional down the
web page.
Also visit my web blog … quanda.efhamed.com
What i do not realize is in reality how you are now not really a lot more neatly-liked than you might
be now. You’re so intelligent. You already know thus significantly with regards to this subject, produced
me in my opinion imagine it from so many varied angles. Its like men and women are not interested until it’s one thing to accomplish with Girl gaga!
Your own stuffs excellent. At all times care for it up!
Lego’s attention to details in recreating iconic scenes and characters sets
it apart. The Lego sets are like a miniature version of our favorite stories.
recommended lego sets This guide is a goldmine for any Lego lover, featuring the most original and fascinating sets available.
It’s impossible to limit your creativity!
Lego Technic sets are designed to challenge builders
by challenging them with complex mechanisms and engineering feats.
Washington iss a ssingle of a handful of states that expressly prohibit
gambliing on the internet with aan offshore sportsbook.
Here is my page; Korea betting
Let’s think about the legality of the iGaming market in North and South Korea.
Also visit my homepage … 4kqz9dx34awsd.copytrade.website
All wagered funds are withdrawn frm your Account at the timee you spot thee wager at the intewractive game.
Look inmto my homepage – Online Casino Blackjack
Neat blog! Is your theme custom made or did you download it from somewhere?
A theme like yours with a few simple adjustements would really make my blog stand out.
Please let me know where you got your design. Kudos
The CBD SEO Workings delivers top-notch services pro businesses in the thriving CBD industry. With a vital nearer to Search Machine Optimization (SEO), they [url=https://cbdlocalseo.com ]cannabis seo[/url] dominate in enhancing online visibility and driving organic traffic. Their savvy lies in tailoring SEO strategies specifically representing CBD companies, navigating the one of a kind challenges of this nook market. Middle of wide keyword enquiry, essence optimization, and link-building tactics, they effectively upwards search rankings, ensuring clients experience out of pocket amidst competition. Their team’s address to staying updated with industry trends and search locomotive algorithms ensures a emphatic and operative approach. The CBD SEO Agency’s commitment to transparency and client communication fosters safe keeping and reliability. Overall, their specialized services pamper to the pellucid needs of CBD businesses, making them a valuable associate in navigating the digital landscape within this competitive market.
I gave [url=https://www.cornbreadhemp.com/collections/full-spectrum-cbd-oil ]full spectrum cbd oil with thc[/url] a prove for the primary time, and I’m amazed! They tasted great and provided a be under the impression that of calmness and relaxation. My importance melted away, and I slept well-advised too. These gummies are a game-changer for me, and I highly put forward them to anyone seeking spontaneous pain liberation and improved sleep.
I gave [url=https://www.cornbreadhemp.com/products/full-spectrum-cbd-gummies ]thc cbd gummies[/url] a try payment the cardinal habits, and I’m amazed! They tasted excessive and provided a be under the impression that of calmness and relaxation. My emphasis melted away, and I slept better too. These gummies are a game-changer on the side of me, and I extremely put forward them to anyone seeking natural worry alleviation and improved sleep.
I gave https://www.cornbreadhemp.com/collections/cbd-cream a prove with a view the primary habits, and I’m amazed! They tasted excessive and provided a sanity of calmness and relaxation. My importance melted away, and I slept better too. These gummies are a game-changer since me, and I greatly endorse them to anyone seeking appropriate stress alleviation and think twice sleep.
I recently tried Organic Body Essentials [url=https://organicbodyessentials.com/ ]skincare shop online[/url] and was pleasantly surprised. Their CBD lubricant provided intelligent relief in place of my angst without any notable side effects. The flavor was merciful and not overpowering. Additionally, their bloke advice was the best, addressing my queries promptly. Comprehensive, I highly recommend Organic Body Essentials CBD with a view anyone seeking high-quality CBD products.
Wow, marvelous weblog layout! How long have you been running a blog for?
you make running a blog look easy. The total glance of your
web site is fantastic, as smartly as the content! You
can see similar here e-commerce
Experience the magic of the casino without ever leaving your home. Hawkplay
Take a walk on the wild side! With this blonde cam girls and hot native Princess!
CBD exceeded my expectations in every way thanks. I’ve struggled with insomnia on years, and after tiring CBD like https://www.cornbreadhemp.com/pages/where-to-buy-cbd-gummies-for-ed in the course of the from the word go age, I finally experienced a complete eventide of calm sleep. It was like a weight had been lifted misled my shoulders. The calming effects were gentle yet profound, allowing me to drift off obviously without sympathies confused the next morning. I also noticed a reduction in my daytime desire, which was an unexpected but receive bonus. The tactfulness was a bit earthy, but nothing intolerable. Overall, CBD has been a game-changer inasmuch as my slumber and solicitude issues, and I’m thankful to arrange discovered its benefits.
Even if a real cams show can’t invest in a high-tech interactive toy, a good old fashioned dildo is a great choice. It’s as suitable for girls just starting out in their careers as it is for those who already have a solid audience.
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me.
I found this article to be very eye-opening. Thanks for sharing.
I found this article to be very eye-opening. Thanks for sharing.
Профессиональный сервисный центр по ремонту бытовой техники с выездом на дом.
Мы предлагаем: сервисные центры в москве
Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!
Your article helped me a lot, is there any more related content? Thanks!
This is a great resource. Thanks for putting it together!
Профессиональный сервисный центр по ремонту компьютеров и ноутбуков в Москве.
Мы предлагаем: ремонт макбука в москве
Наши мастера оперативно устранят неисправности вашего устройства в сервисе или с выездом на дом!
Fake Shoes bh673
Fake Shoes,Replica Sneakers
for women ba567
Reps Shoes ql741
Replica Sneakers Dirty White,Replica Sneakers for women pf177
Nice