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'Do parties – especially the ANC – want to continue in the sea of mediocrity?'

18 April 2019 6:57 PM
Tags:
The Money Show
Bruce Whitfield
Election
Business
Foreign investors
Goldman Sachs
Foreign investment
ANC economic policy
Economic policy
Colin Coleman
Business Leadership SA
Black Business Leadership South Africa
direct foreign investment
economic policies
Goldman Sachs Sub Saharan Africa
Busisiwe Mavuso

Bruce Whitfield interviews Colin Coleman (MD, Goldman Sachs Sub Saharan Africa) and Busisiwe Mavuso (COO, Business Leadership SA).

State Capture and corruption have really in the last decade put the country back significantly Generations are going to pay for that…

Colin Coleman, Manager Director - Goldman Sachs Sub Saharan Africa

Whatever political party ascends to power; they’re going to have to be decisive... Do they want to continue to play in the sea of mediocrity, especially if it’s going to be the ANC?

Busisiwe Mavuso, COO - Business Leadership SA

Foreign investors and South African business lobby groups are jittery.

The country’s economic policies and the upcoming elections are causing many sleepless nights.

The South African Reserve Bank is particularly worried about growth and the impact of a return of load-shedding on the economy.

...Should these [electricity] interruptions continue throughout 2019, it is likely to reduce growth by 1.1 percentage points… Under these circumstances, employment is likely to be lower by an estimated 125 000 jobs…

South African Reserve Bank

Eskom’s debt mountain of R450 billion poses another existential threat to the economy.

Rating agency Moody’s is worried about persistently low growth and South Africa’s rising debt which may hit a whopping 65% of GDP over the next five years.

The Money Show’s Bruce Whitfield interviewed Colin Coleman (Manager Director at Goldman Sachs Sub Saharan Africa) and Busisiwe Mavuso (COO at Business Leadership SA).

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

The SOEs are our biggest fiscal risk… Eskom is the largest… The proposed unbundling… my concern is whether we’ll be able to execute… The generating portfolio is clearly at risk…

Colin Coleman, Manager Director - Goldman Sachs Sub Saharan Africa

We absolutely need to solve the Eskom problem in order to get the economy to grow… It’s down to the Eskom management…

Colin Coleman, Manager Director - Goldman Sachs Sub Saharan Africa

No-one is going to invest if your assets and property are not going to be protected… We need a lot of help from foreign investors…

Busisiwe Mavuso, COO - Business Leadership SA

…Once we achieve [faster] growth we can actually create jobs in massive numbers…

Busisiwe Mavuso, COO - Business Leadership SA

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This article first appeared on 702 : 'Do parties – especially the ANC – want to continue in the sea of mediocrity?'


18 April 2019 6:57 PM
Tags:
The Money Show
Bruce Whitfield
Election
Business
Foreign investors
Goldman Sachs
Foreign investment
ANC economic policy
Economic policy
Colin Coleman
Business Leadership SA
Black Business Leadership South Africa
direct foreign investment
economic policies
Goldman Sachs Sub Saharan Africa
Busisiwe Mavuso

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