South Africa remains open for business and dedicated to creating a conducive environment for it to strive, says Finance Minister Enoch Godongwana.
The Minister made the remarks on Thursday during an engagement with members of the media ahead of the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland.
“We remain steadfast in carrying out structural reforms to support and accelerate economic recovery. As government, we remain resolved to deal with the energy and logistics challenges that are adversely impacting our economy,” he told the media.
This year’s meeting, which will seize area from 15 to 19 January 2024, will focus on rebuilding trust.
“It is quite apt, considering the complexity associated with the domestic and transnational headwinds we are facing.”
He explained that the theme will link four interconnected thematic priorities.
These include achieving security and cooperation in a fractured world; creating growth and jobs for a modern era; artificial intelligence; and a long-term strategy for climate, nature and energy.
According to Godongwana, South Africa remains the gateway to Africa and has called on international investors to invest in Africa and South Africa.
Meanwhile, he is of the view that the African Continental Free Trade Area (AfCFTA) provides further opportunities for South African businesses to expand and grow their business and for international businesses to partner with local companies to increase their presence in Africa.
“Many of you acquire been attending the annual meeting for many years now, and I’m sure you will agree with me that these issues are ones that current and potential investors in our country and continent are interested in.”
The Minister also took the opportunity to thank the private sector for being a willing partner of government, in addressing the challenges the country faces towards unlocking economic growth.
In addition, he said marketing the country during WEF Davos is another distinguished opportunity for collaboration.
Structural reforms
Meanwhile, Godongwana said fiscal consolidation is needed to tackle soaring debt levels, while monetary policy should stay the course to bring inflation to target.
“Structural reforms remain crucial to revive medium-term growth prospects amid constrained policy space. The green transition, increasing resilience to climate shocks, and improving food security for millions of people require strengthened multilateral frameworks and adherence to rules-based platforms for international cooperation.”
He is also of the view that access to competitive international development finance, for developing countries, is imperative to ensure a successful green transition.
In addition, he said government will also be tabling matching competitive financing for green transitions and the Sustainable Development Goals (SDG) in international financial institutions and key global economic platforms such as the Group of 20 (G20).
“Today provides a platform for a frank discussion to enable government and business to align their message for Davos.
“As government, we value this engagement. This is a testament to the presence of my colleagues. We are encouraged that business holds the same view given the level of representation. We might not agree on every the policy issues. However, it is indispensable that we find common ground and that we speak as one voice in Davos.”
He told the media that Treasury, various government departments and Brand SA, gain prepared key messages that the State and business can use as a guide for the country’s engagement at WEF.
“I would just like to highlight the following. The common message we are taking to the annual meeting is that South Africa remains open for business and is committed to creating a conducive environment.” – SAnews.gov.za
Baked Zd
Diary of an Englishman after he moves to South Africa….
**August 1**: Just got transferred with work from London, UK to our new home in Phalaborwa, Limpopo, South Africa. Now this is a town that knows how to live! Beautiful, sunny days and warm, balmy evenings. I watched the sunset from a deckchair by our pool yesterday. It was beautiful. I’ve finally found my new home. I love it here.
**September 1:** Really heating up now. It got to 31 today. No problem though. Living in air-conditioned home, driving air-conditioned car. What a pleasure to see the sun every day like this. I’m turning into a sun-worshipper – no blasted rain like back in London! Had the back yard landscaped with tropical plants today. Lots of palms and rocks. No more mowing lawns for me! Another scorcher today, but I love it here. It’s Paradise !
**October 1:** The temperature hasn’t been below 35 all week. How do people get used to this kind of heat? At least today it’s windy though. Keeps the flies off a bit. Acclimatizing is taking longer than we expected. Fell asleep by the pool yesterday. Got third degree burns over 60% of my body. Missed three days off work. What a dumb thing to do. Got to respect the old sun in a climate like this!
**October 25:** This wind is a bastard. It feels like a giant fucking blow dryer. And it’s hot as hell! The home air conditioner is on the blink and the repair man charged R200 just to drive over and tell me he needs to order parts from @#$# Johannesburg. The wife & the kids are complaining.
**October 30:** The temperature’s up around 40 and the parts still haven’t arrived for the fucking air conditioner. House is an oven so we’ve all been sleeping outside by the pool for 3 nights now. Bleeding R4 million house and we can’t even go inside. Why the hell did I ever come here?
**November 4:** Finally got the fucking air-conditioner fixed. It cost R1,500 and gets the temperature down to around 35 degrees. Stupid repairman. Fucking thief. If one more smart bastard says ‘Hot enough for you today?’ I’m going to fucking throttle him. Fucking heat! By the time I get to work, the car radiator is boiling over, my fucking clothes are soaking fucking wet and I smell like baked cat. Fucking place is the end of the Earth.
**November 9:** Tried to run some errands after work, wore shorts, and sat on the black leather upholstery in my car. I thought my fucking backside was on fire. I lost 2 layers of flesh, all the hair on the backs of my legs and off my fucking behind. Now the car smells like burnt hair, fried bum and baked cat. The Weather report might as well be a fucking recording – hot and sunny. Hot and sunny, Hot and fucking sunny. It’s been too hot to do anything for 2 bleeding months and the weatherman says it might really warm up next week. Fuck!!
**November 15:** Doesn’t it ever rain in this darn place? Water restrictions will be next, so my R5,000 worth of palms might just dry up and blow into the fucking pool. The only things that thrive in this hell-hole are the fucking flies. You don’t dare open your mouth for fear of swallowing half a dozen of the little buzzards!
**November 20:** Welcome to HELL! It got to 45 degrees today. Now the air conditioner is gone in my car. The repair man came to fix it and said, ‘Hot enough for you today?’ I wanted to shove the car up his backside. Anyway, had to spend the R2,500 of the mortgage payment to bail me out of jail for assaulting the stupid fool. Fucking PHALABORWA! What kind of sick, demented idiot would want to live here!
**December 1:** WHAT!!!! The FIRST day of Summer!!!!
You are fucking kidding me, right?
Suicide Jockey
Sarmie – sandwich [saam-ie] A slang word for sandwich.