Johannesburg, 02 November 2018: The Johannesburg Stock Exchange took part in the annual SA Tomorrow Investor Conference (“SA Tomorrow”) that kicked off on Thursday, 01 November in New York. Along with a South African delegation that included the newly appointed Minister of Finance, Tito Mboweni, South African Reserve Bank Governor, Lesetja Kganyago, cabinet ministers and members of the business community, the conference set out to boost investor confidence in the region.
Now in its sixth year, “SA Tomorrow” is an investor roadshow aimed at attracting new investment opportunities to the country and creating a platform to discuss solutions to South Africa’s current challenges.
Following closely on the minister of finance’s recent Medium-Term Budget Policy Statement (MTBPS), the conference focused primarily on the creation of an environment supportive of inclusive growth as South Africa battles a shrinking economy. Pressing policy and regulation issues also featured prominently with the concerns around the 3rd iteration of the Mining Charter, expropriation of land without compensation and the restructuring of state owned enterprises.
“We welcome President Cyril Ramaphosa’s recently announced economic stimulus package. While we acknowledge that this is an important stepping stone to revive Africa’s most industrialised economy, we believe that implementation is what will unlock the country’s full potential. Naturally this needs to be coupled with a legislative and regulatory environment that is more business and investor friendly, something the current political leadership is keenly aware of,” says JSE chairman, Nonkululeko Nyembezi.
The various plenary sessions and speeches echoed sentiments delivered by President Cyril Ramaphosa’s recent trip to the United States and the local investor summit held last week.