Fight against corruption key to investor confidence – economist
Economist Azar Jammine says the government needs to intensify its fight against corruption to sustain a positive outlook for investor confidence.
President Cyril Ramaphosa recently said that investor confidence has improved since the May elections, which saw the formation of a government of national unity.
"The issue of corruption has been at the cornerstone of the decline of the South African economy," says Jammine.
"Because tenders have been provided especially by state-owned enterprises to entities that are close to political influence to benefit financially only a handful of people who gain access to those benefits and the money is often gone to waste."
READ: NPA: Strides being made to remove SA from greylist
He says deteriorating infrastructure and congestion at the ports are some of the issues that have created uncertainty for investors.
He says the government and the business sector need to team up to work through these challenges.
"In the business sector, there were 140 CEOs in this movement - have allocated many of their own managerial resources to go in and assist the government in managing the processes to overcome these structural impediments to grow such as in emery, water supply and logistics."
Find us on social media
Follow the ECR Newswatch WhatsApp channel here
