The CEO of the Pan-African Investment and Research Services, Dr Iraj Abedian says President Cyril Ramaphosa is selling the right message to investors but the environment in South Africa is not ready for long-term investment.
Ramaphosa engaged in a number of activities in New York aimed at drumming up support for South Africa’s economic growth.
This includes discussions with dozens of business leaders as well as presentations on investment opportunities in the country.
The activities come as South Africa’s economy remains stagnant, characterized by a weak rand and high fuel prices.
Dr Abedian explains why the country’s environment is not ready for investment.
“You get in the run-up to elections all kinds of wonderful headlines, grandstanding, all of those conducive to stability, to predictability and certainty that investors need; especially if you are talking about long-term investors which our economy desperately needs. You’ve got to create an awful lot of certainty and not try to make headline”.