LUMKILE MONDI: Team SA needs more than a brilliant sales pitch to fix economy
Investors will need more convincing that the country can implement new economic strategy
When President Cyril Ramaphosa appointed his four investment envoys — Jacko Maree, Trevor Manuel, Mcebisi Jonas and Phumzile Langeni, referred to by some as lions hunting for $100bn over the next five years — many of us were sceptical. By exploiting the Ramaphoria phenomenon, the president bought some credibility in the eyes of both domestic and international investors, enabling him to raise about $24.7bn on his own. This comprises about $10bn and $14.7bn from the Saudis and Chinese, respectively. From October 25 to 27 SA will host domestic and international investors in an attempt to get the country’s economy moving. This will be a great platform for the four lions to pounce on and improve on Ramaphosa’s successes. In its preparations for the investment summit, Team SA has put together an information-rich glossy investment brochure. It begins with “woke” language, describing SA as a hot emerging market. This evokes different images and emotions among the woke in our society, althou...
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