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Rampahosa has drawn criticisms amidst Gulf investment commitment

16 July 2018 8:24 AM
Tags:
Ramaphosa
Investment
Gulf

Analyst Mzukisi Qobo says the President's visit to the Gulf shows Ramaphosa is basing his presidency on reviving the economy.

President Cyril Ramaphosa says he is not playing around in his efforts to secure more investment for the country.

READ: Will Ramaphosa's $10 billion investment commitment from Saudi help the economy?

He was speaking in Abudabi following a three-nation visit to the Gulf.

The President says he is serious about driving economic growth.

Both Saudi Arabia and the United Arab Emirates have each committed to invest 10 Billion USD in South Africa.

However, the visit to Saudi Arabia and the United Arab Emirates has drawn both praise and criticism following the announcement of a more than R130 billion investment into the energy sector in South Africa from Saudi Arabia, the world’s wealthiest oil-producing country.

Associate Professor at the University of Johannesburg, political economy and international relations expert Mzukisi Qobo says the investment is a vote of confidence in South Africa.

Ramaphosa has based his presidency on reviving the economy.

Mzukisi Qobo, Associate Professor at the University of Johannesburg

He says South Africa has always been viewed as a gateway to the African continent and with Ramaphosa, investors see a leader who can create a more positive climate for investment.

And South Africa could be a base for some of the money from the Gulf and that he is also looking into branching out into the African continent especially Sub-Saharan Africa.

Mzukisi Qobo, Associate Professor at the University of Johannesburg

Qobo says broadly some of the solutions for South Africa should be to build confidence in the economy through initiatives like the investment drive which aren't sufficient on their own.

These are the early stages of Ramaphosa's presidency, secondly, we should remember that we are in a transition.

Mzukisi Qobo, Associate Professor at the University of Johannesburg

Ramaphosa has not led his party to a general election and doesn't seem to have full command yet of his own party. He has inherited a government suffering from deep institutional decay and the process of rebuilding the government will take a while.

Mzukisi Qobo, Associate Professor at the University of Johannesburg

Listen below to the full interview:


16 July 2018 8:24 AM
Tags:
Ramaphosa
Investment
Gulf

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