Nissan, Rio Tinto to start pumping billions into SA. Happy days are here again?

Nissan this week announced a R3 billion investment to equip its factory in Rosslyn near Pretoria to build the new Navara.

The investment will boost the carmaker's production capacity by 30 00 units.

The plant will hire an extra 400 employees.

Nissan will produce the bakkie for both local and export markets.

On Tuesday global mining giant Rio Tinto announced it is investing R6.5 billion to develop the next stage of Richards Bay Minerals (RBM), a mineral sands producer and beneficiation company.

How much should we read into these welcome announcements?

The Money Show’s Bruce Whitfield interviewed Xhanti Payi, economist and founder at Nascence Advisory.

Listen to the interview in the audio below (and scroll down for quotes from it).

I think we should be [excited]…

Xhanti Payi, economist - Nascence Advisory

The environment is starting to improve… All the work the President has done is starting to pay off…

Xhanti Payi, economist - Nascence Advisory

We need that money to be deployed…

Xhanti Payi, economist - Nascence Advisory

We’ve done a lot of damage to the economy… It’s going to take some time…

Xhanti Payi, economist - Nascence Advisory

If we start to see investments we’ll start to see growth. And if we start to see growth we’ll start to see investments.

Xhanti Payi, economist - Nascence Advisory

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This article first appeared on 702 : Nissan, Rio Tinto to start pumping billions into SA. Happy days are here again?


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