Deputy President Paul Mashatile said that the ANC does not view bringing private sector money into SA as ‘selling your soul’ to foreign investors. Picture: The Presidency/X
Deputy President Paul Mashatile has denounced the sentiment that government is selling South Africa to foreign companies.
This comes after Mashatile’s week-long visit to the UK and Ireland last week, during which he hoped to introduce new trade and investment opportunities for South Africa.
He told the Financial Times that the African National Congress (ANC) does not view bringing in private sector money into SA is “selling your soul”.
He further added that the ANC no longer views privatisation as a "swear word".
Government and in particular the deputy president has faced criticism from organisations including the South African Federation of Trade Unions (SAFTU) shifting its view on privatising State Owned Enterprises (SOEs) like South African Airways (SAA) and the Passenger Rail Agency of South Africa (PRASA).
Mashatile said that he felt confident that the investor blitz in the UK would lead to better trade and investment relations between these two nations and South Africa.
He noted that these trade relations had been stagnant for years before his trip.
Mashatile made these comments at the South African Chamber of Commerce (SACC) in London.
Mashatile said that he hoped that the SACC could play a more pivotal role in engaging with businesses to promote bilateral trade and investment links between the UK and South Africa.
“It is our responsibility as leaders in our respective regions to foster an atmosphere that encourages entrepreneurship, fosters innovation, and drives inclusive growth,” the deputy president said.
“Our numerous meetings with potential investors have revealed a shift in their attitudes and perceptions towards South Africa, indicating an optimistic outlook,” he explained.
Speaking on South African and UK relations, Mashatile said that this bond will help sustain the new coalition government.
Mashatile said the new Government of National Unity (GNU) has had its ups and downs, telling the Financial Times that there have been clashes with the Democratic Alliance (DA).
He acknowledged it has not been an easy journey and may not be a smooth ride moving forward but nonetheless said that has confidence in the GNU and its ability to stay around for its five-year term.
When it came to the Economic Freedom Fighters (EFF), the deputy president said that the ANC is still keeping the door open and would allow them to join the GNU, provided they accept their basic principles.
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