Today's Big Stories

Nene: Investing in Africa gives us hope

Finance Minister Nhlanhla Nene has singled out the country’s slow economic growth as the one thing that has put him under pressure.

Nene this morning spoke 702's John Robbie about, among others, the tumbling Rand, increasing unemployment levels, negative economic growth, job losses, and the energy crisis.

The finance minister talked about the state of the economy and plans to reignite it.

Listen to the full conversation below:

We are in a situation where we have tough challenges but that present us with opportunities.

Nhlanhla Nene, Minister of Finance

Nene said focusing within Africa is an opportunity, as this is a growing sector in our economy. Had it not been for the investment into Africa, things could be worse than they are. There re currently not many prospects for us in Europe or Middle East, he said.

We just need to investment. Both in our human capital as well as our economy... The economy only grows when resources are deployed where they get the best return.

Nhlanhla Nene, Minister of Finance
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