Ahead of WEF, Mboweni will have to assure investors that the country does have power

Despite Eskom implementing consistent power cuts since the beginning of this month, Finance Minister Tito Mboweni says South Africans can still rely on the embattled state-owned enterprise to provide electricity.

Mboweni was speaking at a pre-World Economic Forum breakfast meeting in Johannesburg on Thursday where he spoke about some of the expectations and issues that Team South Africa will address at the WEF. This year’s annual meeting of the global and political elite from January 21-24 will be held under the theme: “Stakeholders for a Cohesive and Sustainable World”.

The pace of these structural reforms has been slow and has hindered economic growth, Mboweni said, adding that the “never-ending demands” of ailing SOEs continue to weaken the country’s fiscus. Mboweni also bemoaned the huge amount of “wastage and corruption” by SOEs. “We face a difficult fiscal environment. Despite this the South African authorities are determined to proceed responsibly in supporting growth-enhancing initiatives and the poor are still being supported by social security systems,” he said.

“There is political stability in the country which is key to the achievement of our economic objectives. Despite the riffraffs that you see in Parliament, our political system is stable,” he said.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

WEF 2020 bids to create seat at the table | IOL Business ReportWEF has identified three main areas deserving of the world intelligentsia’s attention. These are overcoming income inequality, societal division and climate crisis, writes Dr IqbalSurve. busrep
Source: IOL - 🏆 46. / 51 Read more »

JSE faces subdued start on Thursday ahead of Reserve Bank decisionThe consensus is that the Reserve Bank will opt to keep rates unchanged due to the threat to the rand posed by a junk status rating from Moody’s Investors Service.
Source: BDliveSA - 🏆 12. / 63 Read more »

Rand remains range bound ahead of interest-rate decision“The reality is though, that a mere 1% move on the back of the rates announcement isn’t enough to dislodge R/$ from the safety of its 14.30-14.50.”
Source: BDliveSA - 🏆 12. / 63 Read more »

Mosimane plays it cool ahead of Pirates clashMamelodi Sundowns are in a tense battle with Kaizer Chiefs and Bidvest Wits for this season’s league honours. He must never relax too much we might take him for a long ride Yeah mamelodi Sundowns winning tonight 4|3
Source: eNCA - 🏆 49. / 51 Read more »

LETTER: Grim year ahead for job lossesOn Monday, Massmart announced that it could be shutting down a number of Dion Wired and Masscash stores
Source: BDliveSA - 🏆 12. / 63 Read more »

Under-19 cricket team confident ahead of Afghanistan match - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.%The South African under-19 cricket team has hosted its final pre-World Cup training session at the Diamond Oval in Kimberley.%
Source: SABC News Online - 🏆 32. / 51 Read more »