World powers warn Ramaphosa to act against corruption
According to a report, Germany, the UK, the US, Netherlands and Switzerland wrote to the Presidency saying his international investment drive could fail.
JOHANNESBURG - Five world powers have reportedly warned that President Cyril Ramaphosa's international investment drive could fail should he not act against perpetrators of state capture, corruption and other crimes.
To this effect the Sunday Times is reporting that Germany, the UK, the US, Netherlands and Switzerland have written to the Presidency.
The countries signed a memorandum stating concerns about obstacles to foreign investments such as constant changes in the regulatory framework for mining
The newspaper is reporting that the world powers have called on for a reconsideration of current visa regulations in South Africa.
The report says the confidential memo was prompted by jitters from potential investors in the five countries.
The Presidency has confirmed to the paper that it received correspondence from several countries with significant investment in the country.
Last year, Ramaphosa announced that his administration will work on securing more investment deals, following the South Africa investment conference.
The president announced a R290 billion in investments and R400 billion in pledges.
(Edited by Refilwe Pitjeng)