SA Must Be Careful Not To Scare Away Investors – Cyril Ramaphosa


Deputy President Cyril Ramaphosa, once again warned that crisis within the political government should be curtailed so it won’t scare away  investors.

Deputy President Cyril said this while speaking with reporters on Friday in Singapore at the end of his three-day visit to the city-state.

There he said the state police probe into the finance minister that has undermined investor confidence in the country, should be conducted in a way that does not destabilize the economy.

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Speaking further on how much the issue between the Finance minister Pravin Gordhan and the state police, the Hawks, have affected the state’s economy, Cyril said no doubt no one is above the law, but that police investigation and the way it’s been conducted has inflicted pain on the country’s economy.

“The law must take its course but in the execution of that legal process, nothing must be done as to cause difficulty and problems for state institutions, the Treasury as an institution, and cause imbalances in the economy,” Deputy President Cyril Ramaphosa said.

“It’s important that in whatever we do, we must be very careful. So let’s be careful that we don’t frighten investors, we don’t cause too much angst and concern for the people of SA,” Gordhan said as he called the probe “a bit of political mischief” by those trying to undermine the independence of the Treasury.

The finance minister Pravin this week, led a delegation of business leaders to an investors conference in New York where he made much effort to boost investors’ confidence in the South African economy so as to stave off a credit-rating downgrade.

Though the country’s economy tries to regain strength, business analysts believe the country is still at risk of losing its investment-level credit status as S&P Global Ratings and Fitch Ratings review their assessments in December.

The two rating agencies warned government to take decisive measures to bolster growth, quell policy uncertainty and end political turmoil to avoid a future downgrade.

On SA business individuals’ call for Zuma to step down, deputy Minister Ramaphosa said the decision to determine Zuma’s removal is vested on decision-making structures to make.

“People are entitled to make their own comments,” Ramaphosa said. The ANC’s decision-making structures “do hear what other people say and we take that into account. But in the end from a constitutional point of view, the decisions must be taken by

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He however refused to say if he would seek the presidential positions, saying the process of selecting new leadership had not yet started.

“We are not like an American presidency where one raises one’s hand up and says, ‘I want to run for president’. We are not like that. You are called to be a leader and then you respond.” Cyril Ramaphosa said.