Sacci: SA needs more than R3bn in investment to reach sufficient economic growth
Over R3 billion in investment commitments was raised over the course of the three-day investment conference this week.
JOHANNESBURG – As the country takes stock of the impact of the three-day Investment Conference this week, the South African Chamber of Commerce and Industry (Sacci) said that South Africa needed more investment to reach sufficient growth.
Over R3 billion in investment commitments was raised over the course of the conference.
Sacci economist Richard Downing said that the gathering did, however, highlight the importance of the role investment could play as a key element to growth creation.
The chamber has once again pointed to uncertainty in the economy that was created by instability in state-owned organisations, such as Eskom, as an important factor to business and investment confidence.
Eskom was once again forced to implement load-shedding between Thursday night and Friday morning due to capacity constraints.
Downing said the country should address these challenges, adding that the February budget would be a big test for investors who would be looking to see if government’s short-term goals could be achieved.
“We know all the problems at Eskom, which is financial as well as the physical output, which is not what it should be. We should be seen to be addressing that.”
Downing also stated that while the multibillion-rand investment pledges were positive, they would be keenly watching to see if these came to fruition.
More in Business
-
Mantashe takes first steps to increasing power generating capacity for SA
-
Eskom rolls back power cuts to stage one
-
Eskom: Stage 2 load shedding under way, system still vulnerable
-
Premier Mokgoro under pressure to dissolve corruption-accused NWGB
-
MTN will defend its views on data prices if case referred to Tribunal
-
CARTOON: Who Sabotaged Eskom?
Comments
EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.
comments powered by DisqusHowever, we will NOT condone the following:
- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.
We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.
We strive to make the EWN community a safe and welcoming space for all.
EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.
Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.
EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.