It’s been said that when it comes to investing, what is comfortable is rarely profitable. That is the premise that we need to work from when investing in South Africa. We are undoubtedly in an economic downturn with consumer and investor confidence at an all-time low, but we need to be careful of misinterpreting the downturn as the destination.
As a nation, we can’t help but be exposed to the on-going political narrative. Relentless, sensationalist news headlines feed our insatiable appetite for negativity and do little to engender confidence in our robust, open democracy. But the notion that nothing has changed is misguided.
In the 18 months since Cyril Ramaphosa took over the Presidency, there have been significant changes within our government departments and SOEs, the NPA, SARS and numerous other institutions to root out corrupt and non-performing officials. Unfortunately, this clean up goes much deeper than what we see in the press. Political journalist JP Landman writes about reclaiming the state and it’s time that we acknowledge that we are at a pivotal point in the country’s growth where we need to reclaim the economy.
This is an excerpt from an article written by Karl Westvig appearing under the headline ‘The state of investment’ in the 2019 edition of Vision 2030. Read more in the publication, out in December.