SOUTH AFRICA STILL THE GATEWAY TO AFRICA, GIGABA TELLS WEF

DURBAN, Finance Minister Malusi Gigaba says the World Economic Forum on Africa (WEFA) being held here is an opportunity to not only showcase Durban as one of South Africa’s top tourist destinations to showcase why South Africa continues to be the gateway to Africa.

Gigaba is part of the South African government delegation to the WEFA meeting, which is being led by President Jacob Zuma and his deputy, Cyril Ramaphosa. The gathering is also being used by the government and business to woo investors and cement existing relationships.

Speaking to reporters at the Inkosi Albert Luthuli Convention Centre here Thursday, Gigaba reiterated his earlier assertions that despite the recent two downgrades of South Africa’s sovereign credit to sub-investment grade, the country’s economy remains vibrant and is the most advanced on the continent.

He said South Africa was alive with possibilities and the country was doing all it could to show that it is open for business.

We have a massive infrastructure and investment programme which is running over the next three years. We have a growing young population, vast natural resources and therefore we think that we remain open for business and we are open for investment, said Gigaba.

South African remained focused in managing its fiscus in a prudent manner and the National Treasury would continue to implement structural reforms in the economy, he said.

The government believed the South African economy would continue to grow and this would expand the revenue base in order to increase investment in social and economic expenditure, he said. The main focus for the government at the moment was to achieve and implement inclusive growth, something which is also in line with the WEFA theme for this year.

We understand that only a growing economy can have a capacity to be redistributed, and therefore we are focusing on growing the economy in an inclusive manner.

Source: NAM NEWS NETWORK

SOUTH AFRICA STILL THE GATEWAY TO AFRICA, GIGABA TELLS WEF

DURBAN, Finance Minister Malusi Gigaba says the World Economic Forum on Africa (WEFA) being held here is an opportunity to not only showcase Durban as one of South Africa’s top tourist destinations to showcase why South Africa continues to be the gateway to Africa.

Gigaba is part of the South African government delegation to the WEFA meeting, which is being led by President Jacob Zuma and his deputy, Cyril Ramaphosa. The gathering is also being used by the government and business to woo investors and cement existing relationships.

Speaking to reporters at the Inkosi Albert Luthuli Convention Centre here Thursday, Gigaba reiterated his earlier assertions that despite the recent two downgrades of South Africa’s sovereign credit to sub-investment grade, the country’s economy remains vibrant and is the most advanced on the continent.

He said South Africa was alive with possibilities and the country was doing all it could to show that it is open for business.

We have a massive infrastructure and investment programme which is running over the next three years. We have a growing young population, vast natural resources and therefore we think that we remain open for business and we are open for investment, said Gigaba.

South African remained focused in managing its fiscus in a prudent manner and the National Treasury would continue to implement structural reforms in the economy, he said.

The government believed the South African economy would continue to grow and this would expand the revenue base in order to increase investment in social and economic expenditure, he said. The main focus for the government at the moment was to achieve and implement inclusive growth, something which is also in line with the WEFA theme for this year.

We understand that only a growing economy can have a capacity to be redistributed, and therefore we are focusing on growing the economy in an inclusive manner.

Source: NAM NEWS NETWORK