investing-in-SA

 

 

 

 

 

27 March 2017

The Federation of Unions of South Africa (FEDUSA) General Secretary Dennis George is committed to travelling to London tonight to meet up with Team South which arrived in the British capital this morning at the start of an international road that will proceed to Boston and New York which and is aimed at promoting South Africa as an investor friendly destination and preempting the threat of a sovereign downgrading by the credit rating agencies.

“The General Secretary’s flight is already booked for departure tonight and he looks forward to meeting South Africa’s delegation consisting of Finance Minister Pravin Gordhan and business leader Jabu Mabuza. Any questions relating to the apparent cancellation of the trip should be referred to the Presidency and National Treasury”.

This latest round of international roadshows would have been a follow-up of similar ones held last year, where Team South was able to convince the credit rating agencies and investors that South African social partners were working together to tackle structural challenges facing the country.

“Engaging credit rating agencies and investors is important for the country to ensure rapid inclusive economic growth and the creation of decent jobs for our people. Investments are critical for any developing country,” said FEDUSA General Secretary Dennis George.

“It is always important for social partners to work together to give hope to our people, especially the young who find themselves without jobs, and to deliver a single, positive narrative about the country when dealing with investors and credit rating agencies”.

George added that if social partners were not working together to confront the myriad of structural challenges facing the country, it would imply that they were working against each other. This would be self-destructive and would not take South Africa forward.

Inclusive economic growth and job creation is not only about international investment, domestic investment is also critical. Similarly, economic growth of the nation is assured when citizens invest in the education of their children and in their own education, when a newly married couple invests in buying a new home, when an entrepreneur starts a new small business, and likewise when the developmental agenda calls for new resources and innovations, emphasized George.

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FEDUSA is the largest politically non-aligned trade union federation in South Africa and represents a diverse membership from a variety of sectors in industry.  See www.fedusa.org.zafor more information.

 

For interviews:

Dennis George

FEDUSA General Secretary

Cell: 084 805 1529