Foreign investment
Reserve Bank: Return of foreign investors not enough to boost economic growth
On Thursday, the Reserve Bank governor announced that the repo rate was being lowered by 25 basis points.
From the start of 2020, foreign banks can now set up wholly-owned branches in China without a local partner holding the majority stake, the banking regulatory authority, CBIRC, announced on Friday.
This follows correspondence from the US, UK, the Netherlands, Germany and Switzerland, warning that Ramaphosa's investment drive could fail if he does not deal with the those behind state capture, corruption and other crimes.
The president met with the top 60 CEO's on Tuesday afternoon ahead of the investment summit, which kicks off later this week.
Earlier this year President Cyril Ramaphosa secured a minimum investment commitment of $10 billion from the Saudi Arabian government directed at energy and power creation.
The SA government hopes to raise more money from companies and governments at an investment summit in Johannesburg on 26 October.
The team of economic envoys includes ex-finance minister Trevor Manuel as well as a former top banker.
The Economic Freedom Fighters' Mbuyiseni Ndlozi says South Africa cannot rely on foreign investments.
Fedusa, Cyril Ramaphosa and business leaders say plans have been made to pave a way forward.
The PSIRA Bill will force foreign-owned private security firms to sell off 51% in shares to SA citizens.
Lionel October says Trade & Industry want to ensure South Africa is open to foreign investment and trade.
The finance minister also pledged to work more closely with business and encourage foreign investment.