Gondogwana urges removal of regulatory burdens on businesses in SA

Speaking at the National Investment Dialogue on Thursday, he said the country needed to address basic issues first by removing regulatory burdens on businesses.

New Finance Minister Enoch Godongwana at the swearing in ceremony at the Union Buildings in Pretoria on 6 August 2021. Picture: GCIS.

JOHANNESBURG - Finance Minister Enoch Godongwana said that South Africa should first enable a healthy business environment locally before pursuing international investors.

Speaking at the National Investment Dialogue on Thursday, he said that the country needed to address basic issues first by removing regulatory burdens on businesses.

Godongwana related incidents of challenges being faced by the private sector in the country, saying that these needed to be addressed urgently for the country’s economy to grow.

“One of the things we need to do is to deal with these practical protocols to making sure that businesses that wanted to do business in South Africa can do it before we invite other people from overseas or all those other countries. People in South Africa want to go on about their business and invest and we must allow them to invest.”

The minister also addressed the Eskom question, saying that the country had to move beyond trying to fix Eskom and to securing the supply of electricity.

“Over the last 13 years, we’ve spent most of our time trying to fix Eskom and not fixing electricity supply. We need a paradigm shift which says, as government, we have got security of electricity supply.”

Download the Eyewitness News app to your iOS or Android device.