It’s no news that South Africa is facing one of its worst economic meltdown since 1945, coupled with electricity cuts, deteriorating public funds and delays in policy reforms. While many expect President Ramaphosa to attend the 50th anniversary of the World Economic Forum in Davos and the U.K – Africa Investment Summit in London, SA’s President will be staying home “to give attention to pressing domestic priorities” and preparations for a meeting between the ruling party and the cabinet.
So much is happening in South Africa right now, it’s major power distribution company: Eskom Holdings SOC Ltd has still not been able to fix the blackouts experienced in many parts of the country even though they promised outages won’t resume until mid January. It’s central bank recently lowered its growth forecast for this year to 1.2% from a previous estimate of 1.4%, there’s also the mismanagement of South African airways and other issues within its ruling party.
South Africa will be represented in Davos and London by government and civil society representatives led by Mboweni and International Relations Minister Naledi Pandor, the presidency said in a statement on its website.
