Mathews Phosa calls for continuity on nationalisation

Certainty on the issue of nationalisation is needed and this can only happen by having a unified voice, according to African National Congress treasurer-general Mathews Phosa.

“One of the voices on nationalisation must die. Of the two voices on Walmart [which has been challenged by government in its takeover of Massmart], one must die. Let’s speak with one voice. These issues must be tackled head on,” he told an ANC conference on Thursday evening at which 23 different countries were represented.

“We can take South Africa to greater heights,” was Phosa’s message at the ANC’s Progressive Business Forum, an initiative aimed to foster dialogue, interaction and communication with business members.

It is understood any business can sign up to join the forum.

Phosa in particular called for the mining sector to be opened up, directing this comment at Minerals Minister Susan Shabangu who was in attendance.

‘More investment’
“Investing more in infrastructure is a challenge for us. We should do whatever we can to boost private sector investment. Let’s open up the mining sector to more investment and make it more effective.”

The global crisis was seen to loom large as a major challenge that would impact South Africa.

“The world is very different today and the times we live in are as challenging as they are complicated. Europe has caught a terrible cold and the world is sneezing and it will have an impact on South Africa … due to close trading and investment links. There is no question it is having a negative impact on our market. Every South African should be concerned,” said Phosa.

Phosa said the recent Moody’s outlook downgrade on South Africa should be seen as a wake-up call and at this juncture it was critical to maintain a stable economic policy. But at least South Africa had some flexibility as government debt was “still manageable” and government investment could be a key driver of growth over the next few years.

He noted, however, that private sector investment had declined 2% last year. — I-Net Bridge

Advertisting

Hlophe complaint is an eerie echo

But the new complaint against the Western Cape judge president is also unprecedented

Mabuza contract grows by R10m

Eskom’s negotiators in a R100-million maintenance contract came back with a proposal to push up the costs

‘There were no marks on his neck’, Neil Aggett inquest...

The trade unionist’s partner at the time he was detained at John Vorster Square says she now believes his death was not a suicide

Study unpacks the ‘hidden racism’ at Stellenbosch

Students say they feel unseen and unheard at the university because of their skin colour
Advertising

Press Releases

Silencing the guns and firearms amnesty

Silencing the guns and firearms amnesty

Gender-based violence is an affront to our humanity

Gender-based violence is an affront to our humanity

UK-Africa investment summit 2020: Think Africa Invest SA

UK-Africa investment summit 2020: Think Africa Invest SA

MTN unveils TikTok bundles

Customised MTN TikTok data bundles are available to all prepaid customers on *136*2#.

Marketers need to reinvent themselves

Marketing is an exciting discipline, offering the perfect fit for individuals who are equally interested in business, human dynamics and strategic thinking. But the...

Upskill yourself to land your dream job in 2020

If you received admission to an IIE Higher Certificate qualification, once you have graduated, you can articulate to an IIE Diploma and then IIE Bachelor's degree at IIE Rosebank College.

South Africans unsure of what to expect in 2020

Almost half (49%) of South Africans, 15 years and older, agree or strongly agree that they view 2020 with optimism.

KZN teacher educators jet off to Columbia University

A group of academics were selected as participants of the programme focused on PhD completion, mobility, supervision capacity development and the generation of high-impact research.