Ambassadors to SA from the US, Germany, the UK, Switzerland and the Netherlands have denied that they directly “warned” President Cyril Ramaphosa that corruption could stymie his investment drive and say they were offering the presidency advice on possible barriers to investment in SA. The ambassadors for these countries — representing about 75% of total foreign investment in this country — met department of international relations & co-operation minister Lindiwe Sisulu on Monday, following weekend media reports that they had submitted a joint memorandum to the presidency expressing concerns among investors about rule of law in SA. In a statement released on Monday, the department revealed that the document in question — which is understood to have been prepared in June 2018, but provided to presidency economic adviser Trudi Makhaya in October — was not a formal memorandum, but a “discussion document”. It was prepared for Ramaphosa’s big investment conference in October 2018. “The h...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now