Ramaphosa hails ‘fruitful’ WEF mission

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Credit: AFRICAN NEWS AGENCY
From left: Jeff Radebe, minister in the presidency; Cyril Ramaphosa, deputy president; and Siyabonga Cwele, minister of telecommunications and postal services. Picture: ANA

Ramaphosa hails ‘fruitful’ WEF mission
BUSINESS /
13 May 2016 at 19:03pm
By:Siobhan Cassidy
Kigali – South African deputy president Cyril Ramaphosa, speaking at a press briefing held to conclude South Africa’s business at the World Economic Forum Africa meetings in Kigali on Friday, congratulated Rwanda on the “incredible strides” the country had taken.

Ramaphosa, flanked by Jeff Radebe, minister in the presidency, and Siyabonga Cwele, South African minister of telecommunications and postal services, said the forum had been a most fruitful one for the large delegation of South African politicians, business people and representatives from civil society.

The deputy president said he had already had good feedback from business people about contacts being made and deals being concluded.

He said the delegation, which had used the opportunity to showcase South Africa as an investment destination, would return home with renewed confidence that the country was very much part of a growing continent.

Commending President Paul Kagame for Rwanda’s “incredible strides” forward, Ramaphosa said South Africa had a lot to learn from what Rwanda was doing extremely well. He particularly noted the fact that free internet was widely available in Rwanda and that Kigali had been turned into an innovation hub.

On the slightly thorny subject raised by journalists of why a foreign investor would choose to invest in South Africa with Rwanda as an alternative option, Ramaphosa, an accomplished businessman and investor in his own right, did not miss a beat.

He admitted South Africa did not compare that favourably with Rwanda on certain issues, such as how easy or quick it is to set up a business, which he said, “Rwanda has perfected”. But, he said, regulatory blockages and hurdles in South Africa would soon be addressed by the ‘One-Stop Investment Shop’ that the government had agreed to set up in the country.

Radebe joined Ramaphosa in emphasising that there was the political will to make this facility a reality and a success.

In his congratulations of Rwanda and Kagame, Ramaphosa recounted an anecdote he had heard. A businessman is said to have commended Kagame on the fact that a business could be set up in Rwanda in just four hours. Kagame is said to have admonished the businessman, saying: “Where did you hear this? It takes three hours!”

Answering questions about the relationship between South Africa and Rwanda, which has not always been that happy, Ramaphosa said the countries had very cordial ties.

“The presence and size of the delegation means South Africa and Rwanda have embraced this notion of working together to achieve our 2063 objectives as a continent,” he said.



African news Agency

 

[Al Watani]

congrats for Rwanda and other African countries should follow the trend, African countries should be innovative enough to create conducive environment for both local and foreign investments like Rwanda has been doing in the past few years, there is no way african countries will develop without creating enabling environment for their people to invest and allow foreign investors inorder increase technology transfer.
Tanzania has tried a little bit far but yet there is little more to be done to increase investment from locals. if we properly use our local resources we have, we will soon find Africa out of poverty line.