Deputy FinMin hopes Cabinet reshuffle won’t overshadow WEF

Sfiso Buthelezi says the South African government has a good story to tell to potential investors.

Deputy finance minister Sfiso Buthelezi. Picture: Clement Manyathela/EWN.

CAPE TOWN - Deputy finance minister Sfiso Buthelezi says he hopes the president's recent Cabinet reshuffle will not overshadow the World Economic Forum (WEF) because government has a good story to tell potential investors.

Buthelezi was speaking in Braamfontein on Friday ahead of the World Economic Forum on Africa 2017 in Durban next week which will be under the theme of Achieving Inclusive Growth.

Despite the country being downgraded to junk status, Buthelezi says government has a good story to tell to potential investors.

“The economic investment of South Africa is great. There is a report that just came out which says South Africa is number 25 in the world as a preferred investment destination.”

He said he hoped the focus at the meeting would not be the controversial Cabinet reshuffle.

“I hope not. We are faced by very pressing issues as a country, as a continent and as the world.”

He was asked what the difference was between radical economic transformation and inclusive growth, and he answered that to him it was the same thing because the end result was to include as many citizens as possible in growing the economy.

(Edited by Winnie Theletsane)