Ramaphosa’s number one challenge: getting rid of patronage politics
www.ourlongwalk.com
President Ramaphosa is on an investment offensive. Because the South African economy is stalling, he is desperate to attract investors who will create jobs and boost incomes. One way to do that, he believes, is by hosting summits; a Jobs Summit in early October and an Investment Summit a few weeks later would just be the thing to invigorate investor appetite for South Africa. It was a hard sell. Not only is global economic growth on the wane, but South African internal policies and politics are not creating the stable, low-risk environment that investors crave when the returns are unlikely to be double digits. Whatever the merits of land redistribution, calls for what seems to be an unnecessary constitutional change to allow expropriation create uncertainty. An inability to reduce crime, the one issue that affects all South Africans, makes our country less attractive as an investment destination; The Economist’s recent article on Cape Town’s high murder rate, for example, will undoubtedly hurt tourism. And though Tito Mboweni’s appointment seems to have satisfied markets, it is never a good sign to have a revolving door for the second most important office in government.
Ramaphosa’s number one challenge: getting rid of patronage politics
Ramaphosa’s number one challenge: getting rid…
Ramaphosa’s number one challenge: getting rid of patronage politics
President Ramaphosa is on an investment offensive. Because the South African economy is stalling, he is desperate to attract investors who will create jobs and boost incomes. One way to do that, he believes, is by hosting summits; a Jobs Summit in early October and an Investment Summit a few weeks later would just be the thing to invigorate investor appetite for South Africa. It was a hard sell. Not only is global economic growth on the wane, but South African internal policies and politics are not creating the stable, low-risk environment that investors crave when the returns are unlikely to be double digits. Whatever the merits of land redistribution, calls for what seems to be an unnecessary constitutional change to allow expropriation create uncertainty. An inability to reduce crime, the one issue that affects all South Africans, makes our country less attractive as an investment destination; The Economist’s recent article on Cape Town’s high murder rate, for example, will undoubtedly hurt tourism. And though Tito Mboweni’s appointment seems to have satisfied markets, it is never a good sign to have a revolving door for the second most important office in government.