Ramaphosa's conference bags R363bn in new investments

access

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nothings in the bag until the money is in the bank.

just wondering, what is the result of the previous investment drive, has anything physically manifested
 

The Free Radical

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The most recent jobs stats don't reflect any benefit from the 80% of previous investments which are claimed to have been launched.

The only beneficiary is Luthuli House.
 

DreamKing

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anc always gives empty promises ...

so anc will expect empty promises too.
 

dlk001

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On our side, its mining projects and so it takes 3yrs to 5yrs minimum. This investment could have left the country if we went the NDZ way. Added to that, there's also increased investment in social and educational projects.
 
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garp

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What will really make a difference is the establishment and growth of many thousands of micro, small and medium businesses, rather than a few huge multinationals being coerced with tax deals (or whatever other inducements) to establish/expand local operations.

It's nothing to be sniffed at when a large multinational corporation spends a few billion expanding a local operation, but it is not going to change the fundamental trajectory that we're on.

We need to create an environment where people feel confident enough to take a risk on starting a business, where they can hire and fire the people they need at will, where they're not snowed under with red tape and impeded by complicated taxes and regulations, and where finance is easier to come by.

But I suspect that this is not in the interests of the political elite, because it is easier to get themselves some kind of benefit directly or indirectly from a large corporation than it is to reap any gain from 10000 new small businesses.
 

Milano

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What will really make a difference is the establishment and growth of many thousands of micro, small and medium businesses, rather than a few huge multinationals being coerced with tax deals (or whatever other inducements) to establish/expand local operations.
Also labour intensity is very low among these huge corporations. You are right it has been proven time and time again globally that the true drivers of growth and employment are in the micro, small and medium businesses you described. It is a pity that while the government is fully aware of that they choose what benefits government more than what best serves the actual entire population :(
 

garp

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Also labour intensity is very low among these huge corporations. You are right it has been proven time and time again globally that the true drivers of growth and employment are in the micro, small and medium businesses you described. It is a pity that while the government is fully aware of that they choose what benefits government more than what best serves the actual entire population :(
They pay a lot of lip service to reducing red tape for small businesses and promising they will get paid for public sector contracts promptly, except what they really do is pass more and more laws and regulations that make it increasingly harder for them to compete, and give the contracts to connected cadres.

IMHO they should make most labour legislation, minimum wages, sectoral wage determinations, and a plethora of other bureaucratic and tax requirements applicable only to businesses either with a turnover greater than ~R20m or having more than 50 employees, and then phasing them in (if at all) gradually up to businesses with 1000 employees and R1bn turnover.

But they won't do any of that, firstly because big business loves all those things that keep the upstarts down, and secondly because the politicians are very deeply up the backsides of the unions and don't have the balls to naysay them, and in some cases the politicians are the unions.
 

Bad Ballie

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Who would pledge money given the state of the country and the direction the ANC is headed?

Sounds like corporates taking a long term bet on massive profits if things work out the way they think they will.
 

ambroseg1

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Who would pledge money given the state of the country and the direction the ANC is headed?

Sounds like corporates taking a long term bet on massive profits if things work out the way they think they will.
When the people are oppressed, it is the best time to do business as that is when you can exploit them best.
 

thechamp

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Who would pledge money given the state of the country and the direction the ANC is headed?

Sounds like corporates taking a long term bet on massive profits if things work out the way they think they will.
Forget about pledging money since that bothers a lot of people, the question should be, who would actually invest given the state of the country and the direction the ANC is headed?

The chief tenant of the automotive hub, Ford has done exactly that for the production of the Ranger, Nissan has done the same for the Navara, they must be mad in the head...
 

Milano

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IMHO they should make most labour legislation, minimum wages, sectoral wage determinations, and a plethora of other bureaucratic and tax requirements applicable only to businesses either with a turnover greater than ~R20m or having more than 50 employees, and then phasing them in (if at all) gradually up to businesses with 1000 employees and R1bn turnover.
That is exactly what is required. You need multiple levels in an economy. Just like an informal economy exists at the lowest rungs, you then need micro, small, medium. Not just an informal economy largely ignored in-spite of its value and then huge corporations with nothing in between.

It has never been easy for micro/ small/ medium businesses to succeed even in the old SA. Now it is even harder as it's progressively more difficult to compete while trying to fit into an over regulated private sector with rules and restrictions better suited to huge corporations with multiple legal/accounting departments to handle all the regulation. The conglomerates do not have much to fear in reality as if they untied the hands of this sector they would still likely buy out smaller players.

Many of those smaller players will have the skills and innovations they need. So in fact the huge corporate entities actually lose that opportunity to gain innovation, and SA as a nation kills that innovation too.

The result is growing unemployment, lack of innovation, slower economic growth through the strangulation of the smaller business sectors.
 

Papa Smurf

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R363bn on an Excel spreadsheet means nothing Ramanaaier, show us the money dammit !!!!!!
 

smi

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Forget about pledging money since that bothers a lot of people, the question should be, who would actually invest given the state of the country and the direction the ANC is headed?

The chief tenant of the automotive hub, Ford has done exactly that for the production of the Ranger, Nissan has done the same for the Navara, they must be mad in the head...
Having heard the hilarious and scary stories from engineers at various SA based motor manufacturers, they have to be bloody mad in their heads. Or, some means of smart tax right offs when it goes wrong.
 

thechamp

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Having heard the hilarious and scary stories from engineers at various SA based motor manufacturers, they have to be bloody mad in their heads. Or, some means of smart tax right offs when it goes wrong.
No doubt the stories are very cool and legendary.
 

surface

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Having heard the hilarious and scary stories from engineers at various SA based motor manufacturers, they have to be bloody mad in their heads. Or, some means of smart tax right offs when it goes wrong.
You could share one?. I am in IT sector so could do with a laugh or scare today.
 

smi

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You could share one?. I am in IT sector so could do with a laugh or scare today.
How about a completed car getting final checks and the ops manager finds eaten chicken left overs in the glove compartment.

Or the 1 where acompeted car gets fuel and none of the fuel lines on the tank are connected.
 
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