State capture impeded DTI’s efforts to re-industrialise economy, says Rob Davies

Bad governance, corruption, state capture, and a lack of cohesion across the government has impeded the department of trade and industry’s efforts to re-industrialise the economy, minister Rob Davies said on Tuesday.

Davies said the dramatic increase in foreign direct investment to SA last year when it had declined globally was an indication of this. Foreign direct investment to SA increased from $1.3bn to more than $7bn. High administrative prices, particularly electricity, have also had a negative impact on economic growth.

Davies was asked what he has done to fight corruption and replied that the reason he has stayed in the government for all these years is to look after the interests of the department. There were many times, he said, when he was not sure whether he would retain his post in the frequent Cabinet reshuffles that took place under former president Jacob Zuma.

Red Rob looks very angry

Imagine my surprise at Red Rob wheeling out the big one out as his excuse for having achieved sweet F ALL 🙄 He's been saving this one for the elections all that time 🤣

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