Streaming issues? Report here
volume_up
volume_mute

Home
arrow_forward
Business

'South Africa lives beyond its means. That’s why we need foreign invesments'

6 June 2019 6:31 PM
Tags:
United Nations
Cyril Ramaphosa
The Money Show
Bruce Whitfield
Kevin Lings
Foreign Direct Investment
Stanlib Asset Management
Chief Economist
economist
stanlib
fdi
The Money Show’s Bruce Whitfield interviews Kevin Lings, Chief Economist at Stanlib Asset Management.
President Cyril Ramaphosa and Alibaba founder Jack Ma.

South Africa is not a nation of savers.

Consequently, we need foreigners to invest in our economy.

The country needs to attract about R12 billion of foreign direct investments (FDI) every month to make ends meet.

In February 2018, then newly elected president Cyril Ramaphosa said he aims to attract $100 billion of investments to South Africa by 2023.

He’s been somewhat successful so far.

FDI rose from $1.3 billion in 2017 to $7.1 billion (nearly 2.25% of GDP) in 2018; increasing by a whopping 446%, according to the United Nations.

The Money Show’s Bruce Whitfield interviewed Kevin Lings, Chief Economist at Stanlib Asset Management.

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

South Africa lives beyond its means… We buy more than we sell… That’s why the currency is under pressure…

Kevin Lings, Chief Economist - Stanlib Asset Management

Our reliance on foreign investment is going to expand...

Kevin Lings, Chief Economist - Stanlib Asset Management

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : 'South Africa lives beyond its means. That’s why we need foreign invesments'


6 June 2019 6:31 PM
Tags:
United Nations
Cyril Ramaphosa
The Money Show
Bruce Whitfield
Kevin Lings
Foreign Direct Investment
Stanlib Asset Management
Chief Economist
economist
stanlib
fdi

More from Business

Retirement annuities – here’s what happens if your fund manager goes bankrupt

17 September 2019 3:39 PM

A lot can happen between now and your retirement date. What if your fund manager goes bust?

Read More arrow_forward

10 unexpected things that most truly rich people have in common

17 September 2019 1:56 PM

Personal finance expert Warren Ingram on the money values that those "worth" R40 million or more almost invariably have in common.

Read More arrow_forward

Small business owner, nobody will save you!

17 September 2019 1:50 PM

There are no shortcuts. Beware of "White Knights and Silver Bullets", warns Aurik Business Accelerator founder Pavlo Phitidis.

Read More arrow_forward

Legal dagga just created its first dollar billionaire

17 September 2019 1:20 PM

Boris Jordan’s Curaleaf is the largest dagga retailer in the United States. It’s making him very, very rich.

Read More arrow_forward

'If you grow up with nothing, you want to look rich too soon'

17 September 2019 12:22 PM

Bruce Whitfield interviews Joe Public’s Pepe Marais about his attitude to money (hopes and fears, successes and failures, etc.).

Read More arrow_forward

3 best JSE shares to buy, right now (according to Small Talk Daily)

17 September 2019 10:33 AM

Analyst Anthony Clark shares his stock picks of the week on Bruce Whitfield’s The Money Show.

Read More arrow_forward

Women earn less but have to make it go further, says financial expert

16 September 2019 8:43 AM

Gerald Mwandiambira CFP and Managing Partner at Sugar Creek Wealth says women are more responsible with money than men.

Read More arrow_forward

'Peter Moyo is not required – nor permitted – at work'

13 September 2019 2:32 PM

Old Mutual is not backing down in its fight with fired CEO Peter Moyo. Ray White interviews EWN’s Nthakoana Ngatane.

Read More arrow_forward

Prasa assets not insured, you are riding at your own risk - Mantshantsha

13 September 2019 1:04 PM

Daily Maverick's Sikonathi Mantshantsha says Prasa is on a downward spiral and trains no longer have risk insurance cover.

Read More arrow_forward

Jeremy Mansfield gets real about his money and beliefs about it

13 September 2019 1:03 PM

Bruce Whitfield interviews Jeremy Mansfield about his attitude to money (hopes and fears, successes and failures, etc.).

Read More arrow_forward