As SA prepares for the annual World Economic Forum (WEF) in Davos next week, finance minister Enoch Godongwana said the government plans to use the event to strengthen its global influence and attract much-needed investment.
Speaking to journalists in Sandton on Thursday, Godongwana said the WEF, themed “Collaboration in the Intelligent Age”, provided an opportunity for the government to highlight its efforts towards inclusive technological innovation and sustainable economic growth.
Godongwana noted that President Cyril Ramaphosa would lead the SA delegation for the first time in years, a move intended to enhance the country’s visibility and signal commitment to addressing global economic challenges.
“As we prepare to represent SA in Davos, let us remember the strength that lies in collaboration. Together, government and business can drive the messages that matter most, which are those of resilience, opportunity, and shared prosperity,” Godongwana said.
However, the backdrop is far from ideal. The SA economy grew by a modest 0.4% over the first three quarters of 2024, reflecting slow progress on key structural reforms and persistent energy reliability issues.
While the government, according to Godongwana, remained optimistic about potential growth drivers, including easing inflation and improved power supply, concern over sluggish growth and a strained fiscal position persists.
SA’s Group of 20 (G20) presidency under the theme “Solidarity, Equality and Sustainability” was also expected to feature prominently in its engagement at Davos, Godongwana said.
With this platform, SA aims to project its capacity for global leadership despite a challenging domestic economic environment.
The delegation faces the tough task of balancing optimism with the reality of a struggling domestic economy, while aiming to attract the attention of a global audience amid fierce competition for investment.
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