Editor's Note

Turning the ship around

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The investment strike is over". If the thunderous applause that greeted this announcement by President Cyril Ramaphosa at the Investment Conference is anything to go by, the long and eagerly anticipated moment of economic turnaround may have arrived. At least, that was the feeling in the room. as the President was rewarded with pledges to the tune of R290bn into the South African economy, reflecting increased confidence in his administration.

With Ramaphosa at the helm, it seems that the good ship SA Inc may finally be turning around. However, the storms that have lashed the vessel are far from over, and the direction in which it is navigating is not completely clear. There are the dangerous reefs labelled Recession and Expropriation that have to be passed, the sun is obscured by the clouds of Weak Growth and Deficit, and the sharks of State Capture are still trailing the vessel. Let us hope it can build up enough steam to shake them off!

Of course, the business community has little choice but to trust that the ship will reach safe harbour. Indeed, for those who believe in South Africa, the future is bright, albeit not immediately. As Grant Giburt, portfolio manager at Nedbank Private Wealth. commented at the time of the Investment Conference,“The market is concerned that we could see a possible downgrade from Moody’s but this might present a buying opportunity for long-term investors who can stomach the risk and believe that the economy has a chance of a strong recovery,”

Those who stay the course and help rebuild the country's economy will certainly reap the rewards.

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