Investment drive ‘distinctive difference’ between Zuma, Ramaphosa presidency
Economist Gina Schoeman says one of the positive developments about the investment conference is that government also used the platform to announce policy interventions.
JOHANNESBURG – While there appears to be mixed sentiments about the impact the investment conference will have on south Africa’s economy – some have given it the thumbs up.
Chief economist at Citibank Gina Schoeman says the investment drive is one of the distinctive differences between the Cyril Ramaphosa Presidency and that of his predecessor Jacob Zuma.
Many have criticised the Zuma presidency as a “wasted” opportunity to grow the economy.
Schoeman says one of the positive developments about the investment conference is that government also used the platform to announce policy interventions that will encourage the business community.
She cites the biz-portal website, which Ramaphosa said will be going live in the near furture, as one of the efficiencies that will make a big difference.
“A clear positive announcement out of the conference was the biz-portal website where you can go and register your company in one day and register your other needs.”
Just like other economists, Schoeman says they will also be tracking the amounts pledged at the conference closely – more so as they have an average turnaround time of five years.
“The biggest question is whether they wold remain on that five-year timeline in the event that South Africa’s economy took a far worse path than expected.”
The total value of the investment commitments made at this year’s conference tally up to R363 billion with Ramaphosa saying another R8 billion is on the way.
The government hopes to raise R1.2 trillion in investment over the next four years to improve economic growth and create jobs.