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'The positive outlook of the ratings agencies is not coming out of osmosis'

24 May 2022 11:29 AM
Tags:
WEF
#WEF

Bruce chats to the newly appointed Minister of Human Settlements Mmamoloko Kubayi about the importance of representation at WEF.

While Mmamoloko Kubayi was only recently appointed Minister of Minister of Human Settlements, she has served as Minister in five portfolios. Her experience gained in those portfolios means she is a seasoned spokesperson for South Africa at the World Economic Forum's Annual Meeting in Davos this week.

Speaking to The Money Show presenter Bruce Whitfield, who is also at the meeting, Ms Kubayi says strong leadership has shown South Africa to be resilient through the Covid-19 pandemic. She says the world is taking notice of progress, thanks largely to communications with investors, such as the release of the latest progress report on Operation Vulindlela.

Operation Vulindlela was established in October 2020 as a joint initiative of the Presidency and National Treasury to accelerate the implementation of structural reforms across sectors like energy, ports, water, rail - even process efficiencies within the Government.

Unfortunately, progress takes a long time.

Bruce Whitfield, Presenter: The Money Show

Just this week rating agency Standard & Poor Global revised South Africa's credit rating outlook from stable to positive. Ms Kubayi says the progress reports have a lot to do with it.

The positive outlook of the ratings agencies is not coming out of osmosis. It is because we have gone out, committed to things we are going to do, and produced a report to say we have done so much.

Mmamoloko Kubayi, Minister of Minister of Human Settlements in the South African Government

Kubayi served as member of the Global Artificial Intelligence Council established by the World Economic Forum's Centre for the Fourth Industrial Revolution.

In 2019, she joined other global leaders as a member of the Forum's newly established Global Future Council on Sustainable Tourism, a multi-stakeholder knowledge tasked to advance innovative thinking for a more resilient, inclusive and sustainable future.

That is why it is important that we are here. Speaking directly to potential investors and giving them the answers.

Mmamoloko Kubayi, Minister of Minister of Human Settlements in the South African Government

Questioned whether she feels South Africa is keeping up with the rest of the world, she sites recent progress in the fields of research and development as proof that that it is. When the world first became aware of new Covid variants, it was South Africa leading on the science, she says.

There are areas of excellence that we still need to showcase.

Mmamoloko Kubayi, Minister of Minister of Human Settlements in the South African Government

For more exclusive insights from this year's World Economic Forum, head over to the ABSA Davos website.

Disclaimer: The views and opinions expressed in this article are not the views of Absa.


This article first appeared on 702 : 'The positive outlook of the ratings agencies is not coming out of osmosis'




24 May 2022 11:29 AM
Tags:
WEF
#WEF

More from Bruce Whitfield at #WEF22 in Davos