Companies were “sitting on their hands”, awaiting the outcome of the general elections before putting money into the South African economy, says one of the country’s special investment envoys.
He told the audience that investors were continually stressing to him and his fellow presidential envoys the need for political and policy certainty and simpler regulations. Expropriation without compensation had not spooked investors to the extent they feared losing their factories, but he said it had made them question whether agricultural land reform might be “the thin edge of the wedge”.Work permits and visas – an impediment to foreign investment – “we haven’t solved it yet”Radio frequency spectrum allocation policy – “positive developments”
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