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Polity
Article by: Sapa Published: 06 Jul 2010
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| World Cup an economic success — Zuma | |
| The 2010 FIFA World Cup has been an economic success with good returns on investment, President Jacob Zuma said on Tuesday. "We have had a most successful and exciting time [for] three weeks," he told the Investec Asset Management Global Investment Conference in Cape Town. "It has been a gruelling emotional rollercoaster for all 32 nations that have been participating. And the fun, the colour and the glory have never stopped since the beginning." Economically, the tournament had been a success. "We can safely say that we have good returns on our investment, which includes R33-billion spent on transport infrastructure, telecommunications and stadiums." The investment in stadiums created an estimated 66 000 new construction jobs. The R1,3-billion spent on safety and security included a permanent addition of 40 000 new policemen and women. "We decided to bid for this World Cup because we wanted to show that Africa could do it," he said. "We wanted to challenge all stereotypes about the continent. "We also wanted to market South Africa as the gateway to the continent and as a key actor on the international stage," Zuma said. The international media spotlight had been on the country for the past three weeks. "The world has seen this country in a different light. They have seen the warm friendly people. They have seen the precision when it comes to planning and logistical arrangements. "They have seen the efficiency of our security infrastructure and infrastructure. "Basically, our planning over many years is paying off and we are happy. "The social benefits are priceless. We have seen remarkable unity, patriotism and solidarity being displayed by South Africans, which has never been witnessed before." This augured well for the consolidation of reconciliation and friendship for the young nation. "We intend to build on this achievement," he said. "We appear to be a popular destination for the world. This reminds us of how far we have come as a country. "A mere 20 years ago, nobody would have wanted to come here. The future was uncertain. Apartheid appeared almost impossible to overcome. But we did not give up. And we overcame. "Many freedom loving people in the world also worked tirelessly to help us achieve the free, non-racial, united and democratic South Africa that we live in today," Zuma said. The fund managers had come to a strategic point in Africa. South Africa was a centre between the emerging markets of central and South America and the newly industrialised nations of the south and Far East Asia. "We are also ideally placed for access to countries in the Southern African Customs Union and the Southern African Development Community, an alliance of 15 countries with a combined population of over 180-million." South Africa was the biggest investor in sub-Saharan Africa. Many South African companies had major investments in the continent. They were proving that Africa was indeed a continent of opportunity rather than one of despair," Zuma said. In addition, South Africa also attached great importance to promoting regional and continental integration in Africa to overcome the constraints imposed by small fragmented markets in Africa. The continent should not be seen as a permanent recipient of aid only. It should not be viewed only as an exporter of raw materials, with no possibility to beneficiate such resources in a way that would enhance manufacturing capacity and enable jobs creation and skills development. "We want to be seen as a development partner, as a partner to do business with and to work with to transform international power relations." It had come to be accepted by all commentators and analysts that Africa had come through the recent global economic crisis in much better shape than it did with previous crises. "This, in our view, confirms that Africa is, indeed, a very different place to what it has historically come to be known for. "We are thus convinced that the spirit of what was articulated in the New Partnership for Africa's Development is being internalised in many, if not most countries." African countries were seriously addressing the major challenges such as sound macroeconomic management and infrastructure investment, and were creating good economic conditions for private sector development and investment. "We are all working to ensure that this momentum is maintained. We are therefore focusing quite strongly on such issues as deepening regional integration, intra-African trade and investment in infrastructure. "These are some of the interventions that will enhance the attraction of the continent," Zuma said. |
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