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#WEF2020: Bruce Whitfield live from Davos

23 January 2020 7:07 PM
Tags:
WEF
World Economic Form
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CNN business editor Richard Quest pulled no punches about South Africa when Bruce Whitfield interviewed him in Davos earlier.

If CEOS are pessimistic about global growth, the CEOs attending Davos certainly do not seem pessimistic, says Bruce Whitfield, reporting live from Davos 2020.

In-between reporting about lectures and meetings, Bruce also interviewed the charismatic Richard Quest, CNN's business editor.

And people may not like his shoot-from-the- hip views about South Africa, state capture, and SAA...

Brand South Africa tried to put scarves around my neck on numerous occasions, they've tried to interest me in discussing things but it's not on the same profile as before. It may be about money, trying to scale down. It might be they don't see the need to do it. At the end of the day there's no point coming here and saying invest, invest, invest in me and you don't have the policies worthy of it.

Since two years ago we've discovered just how awful the capture of state-owned enterprises was. Now you tell me how anybody who for the last five years has come here saying SA is really going well, suddenly turns around and says the entire country was hijacked by the way. 'And we're not even sure we've dealt with it.'

How many people have gone to prison so far?

Richard Quest, CNN business editor

The amount of money the SA government has to put into SAA is simply staggering. Unless there is a proper restructuring, meaning government hands-off, let an airline person run the airline, you must ask the question why not just shut it down.

If you look at what Malaysia's options are at the moment, similarly... at the end of the day for SAA to become profitable is going to require the most drastic restructuring and even then it might not.

Sure it's worth having a go. But I'm telling you that will never happen, the government won't keep its hands off it. Governments cannot stop interfering in airlines, they've done it for decades and will continue. Let somebody else come in and run the airline. Until then you'll just have to accept the government will carry on paying money. But please don't try and pretend you're restructuring when you're moving around the deck chairs on the Titanic.

Richard Quest, CNN business editor

President Cyril Ramaphosa came in knowing SA has little credibility following the Zuma years after state capture. You cannot wash it away like you're cleaning a wall. The opportunities in SA are wonderful, the potential enormous, but you cannot just say to people oh don't worry about that nasty little business in which trillions were syphoned off.

Richard Quest, CNN business editor

Bruce also checked in with the developers of eco-friendly products from... seaweed.

Seaweed can be made into bioplastic and clothes, amongst others.

We're talking about bioplastic, veneers and leather replacements. I hope seaweed can offer a blueprint for stabilising and solving a range of climate problems. Seaweed can also protect nature - it can really generate a positive ecological impact.

Prof Julia Lowman

Listen to Bruce Whitfield's full report from Davos and the interviews, by clicking below.

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning.

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : #WEF2020: Bruce Whitfield live from Davos


23 January 2020 7:07 PM
Tags:
WEF
World Economic Form
davos2020
WEF2020

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