BUSINESS is sitting on R600bn in cash and is awaiting the right signs from the government before it will invest the money into the economy.Trade and Industry Minister Rob Davies was at pains on Thursday to assure the private sector that the government is looking to build business confidence in order to encourage investment and job creation.Stanlib Asset Management deputy CEO Patrick Mamathuba said that should the R600bn be invested it would help finance infrastructure programmes in partnership with the government. "It makes sense for us that this capital [R600bn] needs to be used to augment the economy and build infrastructure," Mamathuba said.But the "right commitment" from the government would play a big role in lifting confidence and investment by the private sector, he said.Business leaders often cite policy uncertainty, weak economic growth and stiff regulations among the reasons for low investment rates.Davies and Mamathuba were addressing members of the South African Chamber ...
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