Nation working to attract private investment: Ramaphosa

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

South Africa is struggling to gain economic growth momentum, and Ramaphosa said the country is open to outside investment in ailing state-owned carrier South African Airways (SAA).

We are on record as saying we are open to the participation of the private sector. As we speak now, we’re talking to a few interested parties when it comes to SAA.

He also said the government needs to pursue prudent fiscal policies, stabilise its debt and reduce risk with contingent liabilities in order to attract much-needed investment in the nation.

President @CyrilRamaphosa delivers the opening address at the 6th Financial Times Africa Summit. #FTAfrica #AfricaInMotion https://t.co/EsmwC1Wy8M

— PresidencyZA (@PresidencyZA) October 14, 2019

In other news – Chinese president warns efforts to divide China will end in crushed bodies and shattered bones

While he did not mention any region by name, his comments came as self-ruled Taiwan gears up for a presidential election in January.

Chinese President Xi Jinping warned on Sunday that any attempt to divide China would be crushed, as four months of anti-government protests continue in Hong Kong and the US ramps up criticism over Beijing’s treatment of Muslim minority groups. Read more

Source: eNCA