Local economist Dr Roelof Botha expressed a positive outlook when it comes to South Africa after the general elections on 8 May 2019. Botha gave his predictions during a presentation which was attended by various Bloemfontein business owners, financial advisors and brokers at Leopards and Lace in Bloemfontein this morning.
Botha explained that within 18 months of the elections citizens will notice economic improvement. “Last year we had an all-time record average quarterly inflow of foreign direct investment. It is about time that South Africans have more confidence in the future,” said Dr Botha.
The presentation, which was hosted by Old Mutual, gave an overview of the current state of the country’s economy between two major milestones, namely the annual Budget Speech and the elections. According to Dr Botha the economy took a beating during the Zuma administration but will soon recover once President Cyril Ramaphosa can govern outside of his present interim presidency.
“Moody’s spoke about their views on South Africa and it is very clear that they have faith in Minister Tito Mboweni’s Budget Speech and Ramaphosa’s State of the Nation Address. This means that business confidence has stabilised,” he explained.
Old Mutual’s Marketing Manager, Koos Nel, said that Botha, an economist with experience of over 40 years brought a new perspective on South Africa’s prospects. “What was really great about this was the good news that we can look forward to economic growth in the next 18 months,” said Nel. – Nomaqhawe Mtebele