Economic recovery depends on robust rule of law, says Standard Bank CEO
Sim Tshabalala says reinforcing the rule of law will be one of the fastest ways to restore investor confidence
05 March 2020 - 20:41
Standard Bank CEO Sim Tshabalala, who announced flat earnings for the year ending 2019, says the fastest way to improve business confidence and spur the investment required to get the economy back on track is to reinforce the rule of law and restore faith in the country’s justice system.
Standard Bank announced results two days after Stats SA revealed GDP for the fourth quarter of 2019 contracted by 1.4%. In a harbinger of things to come, gross fixed capital formation registered a decline of 10% during the quarter, indicating the chances of higher growth in future remain muted...
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