Economic advisor says intra-continental investment key to growth

Earlier this week an African Press Attache breakfast roundtable discussion was held in Pretoria, organised by the Government Communications and Information System (GCIS) ahead of the Africa Day celebrations on 25th May.

According to SA News, the discussion foucsed on African countries improving intra-continental trade for significant economic growth to be tangible.

Furthermore, economic advisor, Trudi Makhanya, said that it is important for South Africa to reflect on its economic agenda and communicate its ambition with the rest of the continent.

“When President Cyril Ramaphosa announced the R300 billion in investments locally and internationally, it was important to emphasise that South African investments should be the forefront. It’s difficult to argue internationally that you need investment in your country when your companies are not seen to be investing,” said Makhanya.

She adds that there is an important intra-continental theme that the country is attempting to address, and that it is important to discuss the context before relating it to the rest of the continent.

“We are developing a strong pipeline that speaks to that intra-African investment ambition. Invest SA is also actively collaborating with other investment promotion agencies across the continent. The idea is to foster closer collaboration with investor promotion agencies and also think about a continental approach to promoting investment in the continent,” explained Makhanya.

“In terms of our investment ambitions, though we want to solidify a base of domestic investors, the continent is very important in terms of the source of investment funds into South Africa but also South African companies investing in the rest of the continent,” she concluded.

[Source – SA News]
[Image – CC 0 Pixabay]


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