Finance Minister Pravin Gordhan will be taking the Federation of Unions of South Africa (FEDUSA), the Governor of the Reserve Bank and a business delegation to meet with credit rating agencies and investors in London, Boston and New York from Monday to Thursday 30 March 2017.

FEDUSA is the only trade union federation that will be participating in this international roadshows aimed at promoting South Africa as an investor friendly destination and preempting the threat of a sovereign downgrading by the credit rating agencies.

This latest round of international roadshows is a follow-up of similar ones held last year, where Team South, made up of the social partners of government, labour and business were able to convince credit rating agencies and investors that they were working together to tackle structural challenges facing South Africa.

“Engaging credit rating agencies and investors is important for the country to ensure rapid inclusive economic growth and the creation of decent jobs for our people. Investments are critical for any developing country,” said FEDUSA General Secretary Dennis George.

“It is always important for social partners to work together to give hope to our people, especially the young who find themselves without jobs, and to deliver a single, positive narrative about the country when dealing with investors and credit rating agencies”.
George added that if social partners were not working together to confront the myriad of structural challenges facing the country, it would imply that they were working against each other. This would be self-destructive and would not take South Africa forward.

Inclusive economic growth and job creation is not only about international investment, domestic investment is also critical. Similarly, economic growth of the nation is assured when citizens invest in the education of their children and in their own education, when a newly married couple invests in buying a new home, when an entrepreneur starts a new small business, and likewise when the developmental agenda calls for new resources and innovations, emphasized George.

 

Issued by FEDUSA