Since the initial euphoria over President Ramaphosa’s election and inauguration, some of the excitement has worn off and the focus of the media has shifted back to South Africa’s many problems. Maybe we have forgotten that this new president is a consummate businessman in his own right and used to negotiating successfully at the highest level.
He has recently stated that it was his intention to bring in $100bn of foreign direct investment (FDI) in the next five years. This was a laudable and much-needed goal. But now it seems that his skill at attracting new investment into South Africa may be the game changer that everyone wanted. So far, since making that announcement, President Ramaphosa has managed to get $34bn in FDI – including $14,2bn from the Chinese President who he cornered at the BRICS (Brazil, Russia, India, China and South Africa) conference in Sandton. Read More