Businesses optimism rises with reforms
Pharmaceuticals group Aspen strategic trade development executive Stavros Nicolaou has confirmed that the Government of National Unity’s (GNU’s) efforts to accelerate economic growth in South Africa are already bearing fruit, as more foreign companies are looking to invest in the country.
Speaking during a panel at the Southern Africa & Indian Ocean – France Business Forum on October 15, he said the “new dawn” in South Africa’s governance presents opportunities to enhance bilateral relations between South Africa and countries such as France.
He stated that the two countries had many complementary and synergistic factors in their favour.
Nicolaou explained that while South Africa still needed to reach GDP growth of more than 3% to meaningfully create jobs, lower its debt-to-GDP ratio, ensure competitively priced energy, further reduce the ports backlog and improve its high crime and corruption rates, investors stood to gain more than they did to lose by investing in South Africa.
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