'Team South Africa' seeks to boost investor confidence at the World Economic Forum
Some of the country's ministers and officials are on their way to Switzerland to highlight the "country’s economic turnaround".
Image: Siphelele Dludla / Independent Newspapers
As the world’s eyes turn to the World Economic Forum in Davos on Monday, some of the country's ministers and officials have travelled to Switzerland to highlight the "country’s economic turnaround".
The World Economic Forum, which brings together global leaders from government, business, and civil society, commenced on Monday, January 19, under the theme “A Spirit of Dialogue”, with discussions focused on economic growth, technology, and global cooperation.
The forum will also bring together leaders from governments, businesses, civil society, and academia to discuss global challenges, economic growth, technological innovation, sustainability, and cooperation across regions.
South Africa’s participation at Davos comes as the country seeks to diversify its trading partners amid a cooling relationship with the United States. Tensions have risen following Washington’s imposition of 30% tariffs on select South African exports last year, a move that has strained trade and diplomatic ties. Observers are also watching whether South Africa will maintain full eligibility under the African Growth and Opportunity Act (AGOA).
The delegation is led by Finance Minister Enoch Godongwana and includes:
- Minister of International Relations and Cooperation: Ronald Lamola
- Minister of Electricity and Energy: Dr Kgosientsho Ramokgopa
- Minister of Trade, Industry and Competition: Parks Tau
- Minister of Tourism: Patricia de Lille
- Minister of Small Business Development: Stella Tembisa Ndabeni
According to the National Treasury, the delegation will seek to showcase South Africa’s economic reforms and investment potential.
"South Africa will showcase its improving economic position, reflected in strengthening investor confidence. Key recent developments include the stabilisation of electricity supply, removal from the Financial Action Task Force’s (FATF) greylist, and an upgrade of the sovereign credit rating by the rating agency S&P Global," Treasury said.
Treasury added that the ministers will also highlight progress on structural reforms across energy, logistics, water, digital communications, and small business sectors.
"The Ministers will highlight progress on structural reforms across energy, logistics, water, digital communications, and small business sectors, among others".
"The delegation’s strategic intent is to position South Africa as an attractive investment destination reflected in demonstrable progress in attaining macroeconomic stability, positive momentum in economic reform implementation, regional leadership, and global diplomacy."
mthobisi.nozulela@iol.co.za
IOL Business