{"id":22786,"date":"2022-06-15T12:50:00","date_gmt":"2022-06-15T12:50:00","guid":{"rendered":"https:\/\/eodishasamachar.com\/en\/2022\/06\/15\/business-delegation-made-a-strong-case-for-south-africa-as-an-investment-destination-at-davos\/"},"modified":"2022-06-15T12:50:00","modified_gmt":"2022-06-15T12:50:00","slug":"business-delegation-made-a-strong-case-for-south-africa-as-an-investment-destination-at-davos","status":"publish","type":"post","link":"https:\/\/eodishasamachar.com\/en\/2022\/06\/15\/business-delegation-made-a-strong-case-for-south-africa-as-an-investment-destination-at-davos\/","title":{"rendered":"Business Delegation Made A Strong Case For South Africa As An Investment Destination At Davos"},"content":{"rendered":"<p> \n<\/p>\n<div lang=\"en\">\n<p>        JOHANNESBURG, SOUTH AFRICA &#8211; African Media Agency \u2013 15 June 2022 &#8211;<br \/>\n<span lang=\"EN-ZA\">The delegation that represented South Africa at the World Economic Forum (WEF) Annual Meeting in Switzerland returned home after it vigorously promoted Africa\u2019s most industrialised country as an attractive investment destination with a potential to generate long-term returns for investors.<\/span><br \/>\n<span lang=\"EN-ZA\"> <\/span><\/p>\n<p><figure data-width=\"100%\" style=\"display: block; width: 100%; margin: 0px; padding: 0px; text-align: center;\" align=\"center\" class=\"\">\n  <img alt=\"1P4A8097.jpg\" style=\"width: 100%; margin: 0px;\" data-src=\"https:\/\/images.media-outreach.com\/255110\/1P4A8097.jpg#image-255110\" class=\"lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\"\/><noscript><img src=\"https:\/\/images.media-outreach.com\/255110\/1P4A8097.jpg#image-255110\" alt=\"1P4A8097.jpg\" style=\"width: 100%; margin: 0px;\"\/><\/noscript><figcaption data-display=\"block\" style=\"text-align: left; font-size: 16px; line-height: 24px; display: block; margin: 0px; width: 100%;\" class=\"\">\n<div style=\"margin-top: 16px; text-align: left;\" align=\"left\">\n      <i><\/p>\n<p><i><i>Sithembile Ntombela, Acting CEO of Brand South Africa<\/i><\/i><\/p>\n<p><\/i>\n    <\/div>\n<\/figcaption><\/figure>\n<p><span lang=\"EN-ZA\">A day before the start of WEF 2022, which took place in Davos from 22 to 26 May, <\/span><span lang=\"EN-ZA\">S&amp;P Global upgraded South Africa\u2019s economic outlook to \u201cpositive\u201d from stable\u201d due to improvement in the country\u2019s fiscal position, boosted by increase in prices of commodity exports, which in turn improved tax revenues.<\/span>\n<\/p>\n<p><span lang=\"EN-ZA\">This piece of positive news came on the back of S&amp;P Global\u2019s peer, Moody\u2019s, making a similar move in April when it upgraded South Africa\u2019s outlook from \u201cnegative\u201d to \u201cstable\u201d.<\/span><span lang=\"EN-ZA\"\/>\n<\/p>\n<p><span lang=\"EN-ZA\">The change of heart by these credit ratings\u2019 agencies on South Africa has been influenced by South Africa\u2019s full commitment to implementing economic policy reforms aimed at stimulating economic growth, boosting competitiveness, and attracting investment following the fallout from the covid-19 pandemic.<\/span>\n<\/p>\n<p><span lang=\"EN-ZA\">\u201cThe Economic Reconstruction and Recovery Plan (ERRP) that South Africa launched in 2020 in response to the covid-19 pandemic is bearing fruit. In addition, the South African government launched Operation Vulindlela, which is fast-tracking implementation of structural reforms in key sectors such as energy, logistics, and energy,\u201d said Sithembile Ntombela, Acting CEO of Brand South Africa.<\/span>\n<\/p>\n<p><span lang=\"EN-ZA\">About 60% of the structural reforms have been implemented, laying the founding for accelerated economic growth and attracting more investment.<\/span><span lang=\"EN-ZA\"\/>\n<\/p>\n<p><span lang=\"EN-ZA\">WEF 2022 was dominated by the ongoing war between Russia and Ukraine, covid-19 pandemic, and rising global inflation. Many countries, which rely heavily on Russian food (grain) and energy imports (oil and gas), are concerned about their economies sliding into a recession after Russia was slapped with economic sanctions.<\/span><span lang=\"EN-ZA\"\/>\n<\/p>\n<p><span lang=\"EN-ZA\">The sanctions have disrupted global supply chains and sent prices of energy and food skyrocketing, leading to an increase in inflation across the world, particularly in United States and Europe.<\/span><span lang=\"EN-ZA\"\/>\n<\/p>\n<p><span lang=\"EN-ZA\">\u201cThis is particularly concerning given that the world economy is barely emerging from the covid-19 pandemic and is still very much fragile. As a strong food producing country, South Africa is ready to contribute to global food security by increasing its agricultural exports,\u201d said Ntombela.<\/span><span lang=\"EN-ZA\"\/>\n<\/p>\n<p><span lang=\"EN-ZA\">The International Monetary Fund (IMF) has projected the global economy to grow by 4.4% in 2022, but this forecast is being revised downwards because of the impact of the sanctions on Russia.<\/span><span lang=\"EN-ZA\"\/>\n<\/p>\n<p><span lang=\"EN-ZA\">The South African delegation, <\/span><span lang=\"EN-ZA\">comprising over <\/span><span lang=\"EN-ZA\">35 business representatives, led by Minister of Human Settlements and Head of Cabinet Economic Cluster, Mmamoloko Kubayi, came back from WEF 2022 excited about the prospects that lie ahead.<\/span><span lang=\"EN-ZA\"\/>\n<\/p>\n<p><span lang=\"EN-ZA\">The delegation provided an update at WEF 2022 on Operation Vulindlela and ERRP, which are supporting President Cyril Ramaphosa\u2019s five-year drive to attract R1.2 trillion into our economy, which he launched in 2018.<\/span>\n<\/p>\n<p><span lang=\"EN-ZA\">Four years on and despite disruption by the pandemic, South Africa has raised R1.14 trillion, amounting to 95% of the target set by the President.<\/span>\n<\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/www.media-outreach.com\/news\/south-africa\/2022\/06\/15\/143383\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG, SOUTH AFRICA &#8211; African Media Agency \u2013 15 June 2022 &#8211; The delegation that represented South Africa at the World Economic Forum (WEF) Annual Meeting in Switzerland returned home after it vigorously promoted Africa\u2019s most industrialised country as an attractive investment destination with a potential to generate long-term returns for investors. Sithembile Ntombela, Acting &hellip;<\/p>\n","protected":false},"author":1,"featured_media":22787,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/22786"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=22786"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/22786\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/22787"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=22786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=22786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=22786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}