President Jacob Zuma has urged foreign governments to encourage their companies to increase foreign direct investment in South Africa.
The President’s call comes amidst sluggish economic growth and diminishing investment confidence. With the economic growth at below 2%, the country has been experiencing hardship in meeting its targets to provide job opportunities which are key towards reducing the high unemployment and poverty rates.
The ruling African National Congress (ANC) which has just elected Cyril Ramaphosa to succeed Zuma at the party leader, has vowed to intensify measures to woo foreign investors.
Addressing a group of foreign envoys who have just been accredited to South Africa at the Presidential Guest House in Pretoria, Zuma reiterated government’s call for increased investment and trade.
“This great country of Nelson Mandela is stable and is open to foreign investment Our country is therefore alive with a variety of opportunities that I would urge you to explore and leverage for mutual benefit. I can assure you that we will have sufficient time to interact with you during your tour of duty,” he said.