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'Not all doom and gloom for SA Inc: int. investment going ahead in some sectors'

11 January 2022 7:55 PM
Tags:
SA Economy
The Money Show
Bruce Whitfield
Foreign investment
Jacko Maree
President Cyril Ramaphosa
Investment Conference
SA Inc
structural reform
July Unrest

Bruce Whitfield interviews the President’s Special Investment Envoy, Jacko Maree.
© tintin75/123rf.com

Bruce Whitfield relates how after he last spoke to Jacko Maree in the aftermath of the July riots, the President’s Special Investment Envoy's phone 'went quiet'.

Are we still on the world's investment red list?

Maree is also Chairperson of the Liberty Group and Deputy Chair of the Standard Bank Group, of which he was the CEO for 13 years.

RELATED: Foreign investors will watch SA companies' response to catastrophe - Jacko Maree

The Special Envoy says a level of perspective has returned following the time when shocking images of riots and looting spread around the world.

I think people around the world are looking slightly more positively at the global economy... and looking for opportunities...

Jacko Maree, Special Envoy on Investment to the President of the Republic of SA

RELATED: Heineken buys Savannah maker Distell for R38.5 billion

The target set at the time [April 2018] was R1.2 trillion of investment over five years. In the first three investment conferences we got R770 billion of commitment, so were on track...

Jacko Maree, Special Envoy on Investment to the President of the Republic of SA

Of course we didn't have a conference in 2021, but even then, there was roughly R120 billion of investment...

Jacko Maree, Special Envoy on Investment to the President of the Republic of SA
Jacko Maree, President’s Special Investment Envoy at 702

The next investment conference is scheduled for 24 March 2022.

Maree notes that President Cyril Ramaphosa has acknowledged publicly the need for structural reforms.

This is the only way to attract investment and get the economy growing, he says.

The only way to unlock that is to create confidence and do the right things... We've seen some of that... with the energy regulations... Now we've got the spectrum auction scheduled for March...

Jacko Maree, Special Envoy on Investment to the President of the Republic of SA

Maree says while there have been those within the ANC who are ideologically opposed to strong private sector involvement in certain areas, this is changing.

If you look now for example at ports, rail, water infrastructure... There is a massive need... Many previously opposed are now saying: We've got no option. We need the private sector and foreign investors to come in and help rebuild some of this critical infrastructure or expand it'.

Jacko Maree, Special Envoy on Investment to the President of the Republic of SA

It's not all doom and gloom at all but it's deal by deal in specific sectors, not a flood of investment coming to South Africa... We still are seen as the gateway to the rest of Africa...

Jacko Maree, Special Envoy on Investment to the President of the Republic of SA

Listen to the interview with Jacko Maree on The Money Show:




11 January 2022 7:55 PM
Tags:
SA Economy
The Money Show
Bruce Whitfield
Foreign investment
Jacko Maree
President Cyril Ramaphosa
Investment Conference
SA Inc
structural reform
July Unrest

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