SA needs local investment before it can start focusing on foreign investment, ANC national executive committee member Nomvula Mokonyane said. Mokonyane, who after the recent Cabinet reshuffle which saw the rand plummet said if the rand falls "we will pick it up", said South Africans needed to be loyal to the country. "Let’s use all our resources to invest in the development of this country, let’s use our skills, let’s believe in ourselves, let’s attract people because we can show them that we are capable. "We need co-operatives, we need industries, we need local investment before we can even talk about foreign investment," she said on the sidelines of the ANC’s 5th National Policy Conference in Soweto, Johannesburg. Following the decision by President Jacob Zuma to remove former finance minister Pravin Gordhan and his deputy Mcebisi Jonas, the economy went into a tailspin. This led to some rating agencies downgrading SA’s sovereign credit rating to junk status. Some of Zuma’s allies...
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