NEWSMAKER
Now’s the time for business to open its wallet
Ramaphosa's change agenda needs concrete support, says Soko
It is time for local business to support President Cyril Ramaphosa's change agenda and invest in the economy, says the head of the University of Cape Town's Graduate School of Business, Professor Mills Soko. "South Africa is the most developed economy in Africa. There are lots of opportunities and lots of investors who are sitting on a cash pile," he says. Ramaphosa has appointed a high-level team of "special investment envoys" to bring in $100-billion (about R1.2-trillion) of foreign investment, but domestic business needs to lead the way, says Soko. "They must demonstrate they are committed to South Africa and they must invest. That will lead to international investors replicating what domestic investors are doing." He says Ramaphosa has done enough to demonstrate he is serious about change, and the business sector must now support him. "The business sector can't keep waiting, they've got to support him now. They've got to show that they believe in him." The country cannot afford ...
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