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Mthembu: South Africans must stop selling themselves short

Cabinet said that South Africa was still an attractive investment destination and has welcomed increased interest by prospective investors.

FILE: Minister in the Presidency Jackson Mthembu at a post-Cabinet briefing on 11 July 2019. Picture: Gaye Davis/EWN

CAPE TOWN – Cabinet said that South Africa was still an attractive investment destination and has welcomed increased interest by prospective investors.

Minister in the Presidency Jackson Mthembu gave a post-Cabinet meeting briefing earlier on Thursday morning in Cape Town.

Economic transformation and job creation were among the main issues discussed at the meeting.

Mthembu said that recent multi-billion rand transactions proved South Africa's attractiveness as an investment destination.

These included transactions in the auto sector where auto manufacturer Ford was planning to expand its local operation, creating 1,200 jobs.

Another deal involved American company Pepsi-Co’s R25 billion offer to acquire South African food group Pioneer Foods.

“Around that matter, the Cabinet welcomes the increased interest by prospective investors to consider South Africa as their preferred investment destination. Recent and actual possible transactions illustrate this well.”

Mthembu said South Africans should stop selling themselves short.

“That’s the point that we want to make; because at times as South Africans, we sell ourselves short. I don’t think that there’s anybody in our country who would want to block an investment.”