Former Gauteng premier Tokyo Sexwale said he believes that South Africa's monetary policies have never been in better shape and that it has become imperative for the country to have strong economic policies in place in order to consolidate the economy.

He was speaking at the Finland South Africa business forum in Johannesburg yesterday, where a delegation of companies involved in a range of business sectors were meeting to discuss ways to increase their investment in South Africa.

Sexwale, who is credited with the title of honorary consul-general of Finland, said the country's macroeconomic principles have never been better and that South Africa has a solid fiscal policy based on strong fundamentals.

He, however, said that he does not believe the rand should be so strong, particularly as he is involved in the South African mining industry.

He added that it would be pleasing to him if the rand would stabilise between R7 and R8.

Sexwale spoke about the achievements of South Africa in abolishing the system of apartheid and recognising how far the country has advanced in its decade of democracy.

“We have something to celebrate as the fundamentals of peace, democracy and governance are still present in South Africa,” he said.

He forecast that the South African economy will see growth above the current 3% mark within the next year.

“Despite not achieving our goal of 6% growth by the turn of the century, our current level of 3% has been positive growth nonetheless. I envisage growth levels above the 3% mark within the next year,” he said.

Paula Lehtom