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SAA open to private investors, Ramaphosa tells London summit

President Cyril Ramaphosa addressed the Financial Times Africa Summit in London on Monday.

President Cyril Ramaphosa seen at the Financial Times Africa Summit on 14 October 2019. Picture: @PresidencyZA/Twitter

JOHANNESBURG - President Cyril Ramaphosa has assured investors that economic growth and stabilising state-owned enterprises, like Eskom, was at the centre of reforming South Africa.

Ramaphosa addressed the Financial Times Africa Summit in London on Monday.

He told delegates that strong institutions and an independent judiciary were key.

“There is an army of South Africans who want South Africa to do good and who want South Africa to embrace the values that Nelson Mandela stood for. In that regard, I stand on the shoulders of many South Africans to lead our country down that path.”

Ramaphosa said they were open to outside investment in ailing state-owned carrier South African Airways (SAA).

“We are on record as saying we are open to the participation of the private sector. As we speak now, we’re talking to a few interested parties when it comes to SAA.”

He also said the government needed to pursue prudent fiscal policies, stabilise its debt and reduce risk with contingent liabilities in order to attract much-needed investment in the nation.

Additional reporting by Reuters.

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