foreign direct investment

Sun City, 11 April 2012: In his opening address at the 4th International Trade and Investment Conference, President Jacob Zuma has reiterated the role that South Africa has played and continues to play, in Africa’s growth. Highlighting Africa’s achievements in the last decade, President Zuma also brought the delegates’ attention to the indisputable fact that Africa is a growing continent that offers the international community high returns on investment; and is now best suited to broader regional integration.

Deputy Trade and Industry Minister Elizabeth Thabethe, addressing a business seminar in Harare, urged South African companies to take advantage of the improving situation in Zimbabwe.

South Africa's current account deficit narrowed to 3.6% of GDP in the fourth quarter of 2011, while foreign direct investment inflows increased substantially, the Reserve Bank says in its latest quarterly bulletin.

The Competition Appeal Court's ruling on US retail giant Walmart's acquisition of local retailer Massmart has been welcomed as balancing the need to project South Africa as investor-friendly while addressing concerns around small business and job creation.

South African staple foods manufacturer Premier Foods has acquired a controlling stake in two Swaziland-based bread and confectionary businesses, Mr Bread and Swaziland United Bakeries, for R85-million.

Opposition MPs, in a National Assembly debate on President Jacob Zuma's State of the Nation address, welcomed the focus on infrastructure development while urging Zuma to focus more on developing skills, implementing labour reforms and tackling corruption in the country.

South African direct investment in Africa has increased at four times the rate of the country's overall foreign direct investment since 1994, according to the latest South Africa Survey published by the SA Institute of Race Relations.

Africa will target the establishment of a continental free trade area by 2017, according to a document issued at the closing of the 18th African Union summit in Addis Ababa, Ethiopia.

In Davos this week, South Africa must stress the growing global role of Africa and the developing world, while positioning itself as a gateway to the continent and an investment destination of choice, writes Brand South Africa CEO Miller Matola.

President Jacob Zuma has called on South African and Mozambican companies to partner in investing and in sharing knowledge and expertise for the benefit of the people of both countries.