As the sixth administration nears the end of its term of office, the government has defended President Cyril Ramaphosa’s performance saying he has delivered on most of the promises he made when he got into office in 2019.
Presidential spokesperson Vincent Magwenya briefed the media at the Union Buildings in Pretoria and among others shot down suggestions that investors may be losing confidence in South Africa.
Magwenya cited the proposed BHP Billiton proposed takeover of Anglo-American as an example of baseless negative reporting about South Africa’s investment prospects.
“The presidency has noted with concern the emerging narrative around the BHP Billiton transaction with Anglo American. Some analysists and sections of the media have sought to portray this market activity as a vote of no confidence on South Africa. The presidency rejects the notion that a commercial approach by BH Billiton equals to a hostile environment for investors. Some of the issues that are being cited are being resolved with the participation and partnership of business,” he said.
Magwenya said among other things Ramaphosa did to restore investor confidence was to make key appointments in institutions such as SARS and the NPA aimed at fighting crime and corruption which he said has been successful, along with efforts to address the energy crisis and eliminate a backlogs at the country’s ports.
“Once in the hands of credible leadership, these institutions have made significant progress in the fight against crime and corruption. By November 2023 the task teams had made over 4000 arrests for damage to key infrastructure and 3000 arrests for illegal mining.
“The NPA has taken 34 state capture and corruption cases to court involving 203 accused persons and 65 entities. NPA has also secured the conviction of over 500 civil servants,” said Magwenya.
Magwenya said the investor community is already showing confidence in South Africa and that Ramaphosa found the response “satifying”.
“He said various task teams set up by the president in collaboration with business continue “improving the functionality of our ports. The presidency will implore the investor community to note the optimism that has been expressed by the business community in various publications and platforms on the progress achieved across these three areas of priority,” he said.
Magwenya said Ramaphosa had done enough to attract investors to South Africa.
“These should reassure investors that momentum is building and will be maintained to reduce crime and corruption, continue improving energy supply and resolve the logistics back-locks,” said Magwenya.