25 May 2018

South Africa: WEF Chair, Klaus Schwab Offers Ramaphosa a Leg-Up for SA's Investment Drive


World Economic Forum (WEF) founder and executive chairman Professor Klaus Schwab offered to bring almost 100 business people to South Africa for a round table on investment. This emerged during an engagement with President Cyril Ramaphosa and the South African National Editors' Forum (Sanef) at the Presidential Tuynhuys offices at Parliament on Thursday. Such a phone call is possibly one of the strongest indication that changes could be afoot after years of scandal-ridden, politically-troubled administration that saw South Africa downgraded to junk status by two of the three international rating agencies.

Investment, specifically raising $100-billion (R1.3-trillion) over the next few years, has emerged as a thread through the President Cyril Ramaphosa administration that on Friday marked Day 99 of his first 100 days.

It first arose in Ramaphosa's State of the Nation Address (SONA) on 16 February and was backed up a month later with the appointment of four investment envoys, including former finance minister Trevor Manuel and former deputy finance minister Mcebisi Jonas. Also appointed were private sector personalities Phumzile Langeni, Afropulse Executive Chairperson and non-executive director in various boards, and Liberty Chairman Jacko Maree.

"While total fixed investment in our economy stood at 24% of GDP (gross domestic...

South Africa

Land Expropriation - 'This Is the Information We Have' - Rural Development Department

Government does not have a list it is using to target farmers but does have details of farms and their owners it has… Read more »

See What Everyone is Watching

Copyright © 2018 Daily Maverick. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.