Zuma says Gigaba to embark on investment roadshow ‘urgently’

Zuma says Gigaba to embark on investment roadshow 'urgently'

The President was speaking at the unveiling of the Trans-African Locomotive at Transnet’s Engineering Factory in Koedoespoort, Silverton on Tuesday (4 Apr) morning.

President Jacob Zuma has said newly appointed finance minister Malusi Gigaba will embark on an overseas investment roadshow to assure investors that all was fine in South Africa.

Zuma was at Koedoespoort, Gauteng where he was launching the Trans-African Locomotive and said that a united and stable national treasury was ‘absolutely’ important for government before thanking ex-minister Pravin Gordhan for ensuring a ‘smooth transition’.

“It is more important than ever now that we unite as a country and work together in light of the unrelenting socio- economic challenges that we face,” Zuma said.

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“We will continue to work with business and labour to take forward the work of the CEO Initiative that was established [by Gordhan] last year to reignite growth, while also strengthening the Presidential Business Working Group where we interact with all components of business,” he said.

“Minister Gigaba and his team will also be reaching out to the international investor community urgently to assure them that South Africa remains a stable, reliable and competitive investment destination.

“They will build on the good work that has been done thus far,” said Zuma.

He said statements made by ministers which indicated there were disagreements between them demoralised people “and create confusion” and “this is a serious weakness and we shall attend to it with renewed vigour”.

Zuma says Gigaba to embark on investment roadshow 'urgently'
President Jacob Zuma unveiled the Trans Africa Locomotive, a train system built entirely by Transnet. PICTURE Rail Journal.

He said the Trans-Africa Locomotive project gives Transnet an opportunity to grow and create jobs.

This will connect various African countries.

“We must continue working hard to develop infrastructure that promotes trade among African countries and which make it easier for us to visit one another and also boost economic growth and development,” Zuma added.

(edited by MLM)

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