Mashatile calls on UK businesses to expand footprint in SA
Deputy President Paul Mashatile says government is encouraging foreign companies to invest in South Africa.
Deputy President Paul Mashatile is on an investor drive in the United Kingdom. Picture: GCIS
CAPE TOWN - Deputy President Paul Mashatile has told British investors the Government of National Unity (GNU) is hard at work to make South Africa open for business.
He's currently on an investor drive in the United Kingdom (UK), having also visited Ireland last week.
Speaking at a roundtable hosted by American multinational financiers, JP Morgan on Wednesday, Mashatile urged UK businesses to expand their operational footprint to SA.
Mashatile said government is encouraging foreign companies to invest in South Africa and by so doing, benefit from the free movement of goods, services and people from SA to other parts of the continent through the African Continental Free Trade Area agreement.
He said relocating operations to SA could be a gateway to the African market.
"Foreign companies from various countries including the UK, some of them have been slow in taking advantage of these opportunities and we want to see more of you doing so," he said.
Mashatile said there are signs of early-stage entrepreneurial growth in SA and a lot of awareness has been created of the benefits partnerships with the UK can have.
"The GNU is hard at work and we are going to make sure that working hand in hand with you, we can harness this partnership to its full potential," said Mashatile.
He's also told the gathering government is looking forward to taking over the chairmanship of the G20 next year, and said hosting the summit could be bigger than the 2010 FIFA World Cup.
Besides investment in the energy space, Mashatile said the country wants to explore cooperation for investment projects in sectors such as food technology, global business services, film and financial technology with the UK.