Monday, 14 October 2019 13:30

 

President Cyril Ramaphosa has told the Financial Times Africa Summit in London that South Africa is working to restore its institutions and to secure the private investment to grow the economy.

Ramaphosa said they were open to outside investment in the state owned South African Airways(SAA).

We are on record that we are open to the participation of private sector, as we speak now, we are talking to a few interested parties in the airline, He added.

He further said that government is due to publish a number of key papers in the coming day: a special paper on how to rescue Eskom, as well as the country's long term energy plan.

Asked if he thought the government was doing enough to maintain its investment grade rating with Moody's, He said he expected "Moody's and other's to happy"

Meanwhile Moody's last month said its stable outlook for South Africa debt meant the credit rating was probably safe for another 12 to 18 months. 

The Financial Times Africa Summit is hosted annually by the Financial Times newspaper, with a focus on business affairs and opportunities in African countries. This year’s theme, ‘Africa in Motion’, places a special emphasis on youth, women, entrepreneurs, scientists and artists and innovation.

The summit is aimed to discuss business, investment as well as the political and cultural environment in Africa with expert speakers, potential investors and innovators.

 

Source: News Agencies.