Motlanthe defends SA's tepid economic growth
Thursday 28 November 2013 05:32
Sherwin Bryce-Pease
Deputy President Kgalema Motlanthe has concluded his working
visit to Canada. (SABC)
South Africa’s Deputy President
Kgalema Motlanthe has dismissed suggestions that the country is suffering from
an economic hangover.
This as a result of tepid economic growth, poor labour relations in mining and
investor insecurities as a result. Instead, he argued that when challenges are
identified, the government is first to engage and address those concerns.
Motlanthe was speaking to SABC News at the conclusion of his working
visit to Canada on Wednesday.
It was a trip of meet, greet and engaging stakeholders. With questions on the
real successes of Black Economic Empowerment (BEE), the relationship with
labour on the mines to just how far up the value chain the country will go to
implement beneficiation,
sessions Motlanthe believes is proof government takes the concerns seriously.
“When there are problems or challenges or weaknesses, the South African
government would be the first to admit to that and therefore to be able to take
corrective steps to address that weakness which would have been identified, so
there’s no sweeping difficulties under the carpet so to speak but it’s really
always, the approach is to confront problems and deal with it.”
He believes the success of his visit should be measured against what
understanding emerges out of engagements with interested parties.
“For as long as there are misconceptions, for as long as perceptions that are
negative persist it means that when investors have to choose where to put their
money in, you will be last in the queue but once there is a common
understanding and reassurance and that problems are being attended to, the
goodwill that emerges out of such engagements and visits is what matters
most."
The President and CEO of Cordiant, David Creighton says: “Certainly the
extractive industries are a great employer but where you want to push yourself
up the value chain a little bit further and manufacturing is a terrific source
of employment creation, but in conjunction with that you have to have
predictable power in order to allow the manufactures to make sure that they’re
making money.”
South Africa's Deputy Minister of Mineral Resources, Godfrey Oliphant says:
“We have had this 10 year period to say lets transform the mining industry to
change the image from what it was to where it is. Beneficiation is not anything
new, SA has been having gold refineries for many years, we are the best in coal
to liquid technologies and so on from the Sasol perspective, so its nothing
new, we are just saying we are escalating beneficiation going forward.”