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Minister in the Presidency, Khumbudzo Ntshaveni, has reiterated the government’s firm stance amidst reports suggesting a mass exodus of investors from South Africa.
Speaking at the Presidential District Development Model (DDM) Imbizo in Kuruman, Northern Cape, Minister Ntshaveni dismissed claims of a significant investor flight, particularly in light of recent reports about Shell’s departure from South Africa after a century of operation.
“Reports of investors leaving the country in droves are unfounded. Commercial dynamics dictate fluctuations in business activity. While one company may depart, another enters the market,” stated Minister Ntshaveni.
Highlighting Volkswagen’s recent R4 billion reinvestment for upcoming auto-manufacturing ventures, she emphasized that such transactions are part of the natural ebb and flow of global commerce, rather than indicative of broader confidence trends.
Minister Ntshaveni underscored ongoing investments flowing into South Africa, exemplified by projects like the Boegoebaai green hydrogen initiative, where international and local investors are actively engaged.
President Cyril Ramaphosa’s recent State of the Nation Address also emphasized the government’s commitment to green energy, particularly through projects like the Boegoebaai Special Economic Zone, aimed at driving investment in renewable energy.
Regarding challenges such as load shedding and freight rail disruptions, Minister Ntshaveni assured stakeholders of the government’s proactive approach in addressing these issues. She highlighted recent progress in managing load shedding and resolving logistical bottlenecks, emphasizing Eskom’s efforts to optimize power generation capacity and Transnet’s improvements in addressing port congestion in Durban.
