Rand strengthens as Ramaphosa pursues investors

As the Deputy President Cyril Ramaphosa continues engaging world leaders and business in Davos, Switzerland, at home the rand has been strengthening.

 The Deputy President will hold bilateral discussions with the heads of government of the United Kingdom, Denmark and The Netherlands on Team South Africa’s last day at the World Economic Forum 2018 in Davos, Switzerland on Thursday.

Ramaphosa will meet British Prime Minister Theresa May, Danish Prime Minister Lars Løkke Rasmussen as part of forging partnerships between South Africa and members of the international community that will be mutually beneficial and will contribute to the resolution of issues facing the global community.

He will also hold an international press conference at the WEF Media Village, in addition to high-level interviews with global television networks, as part of building confidence in South Africa among stakeholders who are not present at the Forum.

The South African delegation to the World Economic Forum 2018 (WEF) in Davos has been assuring governments, investors and finance institutions that South Africa is politically stable, that the country is improving governance of state-owned enterprises and the investment opportunity are plentiful.

He continued with a series of bilateral meetings with African Union Chair and Guinean President Alpha Condé and President Emmerson Mnangagwa of Zimbabwe, and was due to meet Mauritian President Ameenah Gurib-Fakim on Wednesday evening.

The Deputy President participated in a WEF breakfast session on Peace building in Africa where President Condé delivered the opening remarks while President Paul Kagame of Rwanda.

Deputy President and South Africa’s Ministers for Planning, Monitoring and Evaluation; International Relations and Cooperation; Trade and Industry; Economic Development; Finance and Public Works, and Reserve Bank Governor Lesetja Kganyago also participated in a WEF Country Dialogue.

South Africa’s ministerial delegation has participated actively in a range of discussion platforms and bilateral meetings with international public and private sector leadership who have existing interests in or are exploring new opportunities in South Africa as a leading emerging market.

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SA business promotes investment at WEF