Nica Richards
Deputy online news editor
6 minute read
15 Jul 2020
2:49 pm

Private sector needs more policy certainty before investing in saving SA

Nica Richards

Government's economic recovery plan hopes to grow the economy by 5% per year, and create 1.5 million jobs, but can a State seen as soft on corruption and prone to mismanagement entice the private sector to invest in their grand scheme?

Shacks and satellite dishes in Alexandra in Johannesburg, 31 March 2020. Picture: Nigel Sibanda

Before the ANC becomes too optimistic about solving the country's economic woes, the governing party must tackle the tough job of enticing the private sector to invest in South Africa and deal with their poor track record of tackling corruption and mismanagement. Although the Covid-19 pandemic has resulted in a global buckling of economies, the party is cautiously optimistic that this time presents an opportunity to develop principles to better spend money and utilise resources.  This according to their recently released Economic Reconstruction, Growth and Transformation document, compiled with Business for South Africa (B4SA).  Key points in the document include...