Ramaphosa offers assurances over SA's economy
Ramaphosa says SA is politically stable & govt is creating billions of rands of new investment.
JOHANNESBURG - African National Congress (ANC) Deputy President Cyril Ramaphosa says an assessment team from ratings agency Moody's raised the issue of political uncertainty in South Africa, because a number of commentators cite this as the reason for a decline in investor confidence.
Ramaphosa addressed professionals and academics at a Gauteng ANC summit in Sandton last night.
#ANCSummit Ramaphosa: We want to win all our councils. I see a lot of professionals with a lot of rands. The party wants your donations. EC— EWN Reporter (@ewnreporter) March 23, 2016
The Moody's team visited the country last week and met with top Treasury officials.
Ramaphosa says while the economy is facing challenges including a major shift in investment, South Africans must be careful not to overplay issues facing the country.
He says the country is stable politically and the government is creating billions of rands of new investment.
"Our institutions are resilient and robust. We've got very stable institutions."
Ramaphosa says for the most part, public institutions manage public funds properly and the party will address corruption wherever it occurs in public spending.
"We'll reverse it and eliminate it from South African soil."
#ANCSummit Ramaphosa: Rekindle your love with the ANC, we want your love back. EC— EWN Reporter (@ewnreporter) March 23, 2016
The deputy president says the ANC is always the first to admit its own mistakes and own weaknesses, and to correct them as soon as they are identified.
#ANCSummit Ramaphosa: there is no better organisation to advance this country than the ANC. This organisation is the one and only. EC— EWN Reporter (@ewnreporter) March 23, 2016
#ANCSummit Ramaphosa: We do this not only because it is election time, even beyond election time the door is open. EC— EWN Reporter (@ewnreporter) March 23, 2016