Anglo American group CEO Duncan Wanblad says investors are frustrated by South Africa’s failing infrastructure.
As reported by, Anglo American group CEO Duncan Wanblad said that investors and business leaders were irritated by South Africa’s failing infrastructure – specifically load shedding and Transnet’s issues.
Although South Africa is not a basket case, international investment was “becoming more and more challenging because the country is becoming less and less competitive”. Despite the greylisting not affecting Anglo American directly, Wanblad said that the group could suffer if South Africa’s investment ratings dropped.
“We are on a long journey to rebuild our country and recover the ground we have lost. Our recovery is a mission that will take time to accomplish. We are on the recovery path, we refuse to be daunted by the challenges we face, we are confident that we will recover.” For the next five-year cycle, the president said that the new investment target is an additional R2 trillion, despite the dire global economic environment., the CEO of Business Leadership South Africa , previously said that the government has done little to make South Africa look attractive to investors.For instance, she said that National Treasury’s exemption given to Eskom, allowing it to skip reporting irregular, fruitless and wasteful expenditure, was a major blunder.
She said that another blunder was made by electricity minister Kgosientso Ramokgopa regarding his comments about making South Africa’s ageing coal power fleet a priority again – potentially diverting attention from the country’s shift to renewables.
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