Treasury is pulling the red carpet for investors from under their feet
Finance minister Tito Mboweni is clawing back some incentives, while others are being rendered ineffective
Listening to President Cyril Ramaphosa engaging with US business people last week I was struck by how knowledgeable and interested he is in industry, investment and innovation. He is clued-up on the detail and is clearly on excellent terms with many industrial captains.
The president is undoubtedly aware that without the industrial sector having come to the party so magnificently in his first two investment conferences he would not have collected the current R664bn in pledges out of his total five-year target of R1.2-trillion. The aim of this week’s conference is to ensure there is no slippage in existing pledges, though we expect to see a Covid-induced fall in the scale of new pledges...
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