PRETORIA – Cabinet has reflected on the positive investor sentiments emanating from President Cyril Ramaphosa and Deputy President Paul Mashatile’s working visits to New York in the United States, and London in the United Kingdom (UK), respectively.
The President’s programme, held on the margins of the 79th United Nations General Assembly (UNGA), included opportunities to promote South Africa as an investment destination of choice. This included his address to the New York Stock Exchange – the largest stock exchange in the world by market capitalisation.
The Deputy President’s investment drive to the UK and Ireland also included an address to the London Stock Exchange (LSE). The address was centered on the need to expand the UK’s investment footprint to South Africa. The LSE was the most valued stock exchange in Europe from 2023.
“Both President Ramaphosa and Deputy President Mashatile, and the delegation that accompanied them, articulated the priorities of the Government of National Unity, with the apex priority being achieving inclusive economic growth and job creation, and the concomitant initiatives underway to achieve the set priorities.
“They further set out work that is underway through the programme of structural reforms to create favourable conditions for investment. The programme of structural reforms is coordinated through Operation Vulindlela by The Presidency and National Treasury,” Minister in The Presidency, Khumbudzo Ntshavheni, said on Thursday during a media briefing in Pretoria.
Meanwhile, Cabinet welcomed the launch of Phase 2 of the Government- business Partnership aimed at implementing priority interventions across selected focal areas to accelerate the country’s path towards inclusive economic growth and job creation, through increased investment and rapid implementation of reforms, to improve national sentiment.
“Working in support of government interventions, more than 130 Chief Executive Officers (CEOs) of major South African businesses mobilised resources, including expertise, to address the electricity load shedding crisis that is now a thing of the past, support the implementation of the Logistics and Freight Roadmap, the Visa Reform, and the fight against crime and corruption during Phase 1,” the Minister said.
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