They say the measures the South African President  outlined to the media in Pretoria yesterday (Friday) contain no new injection of money into the economy that slipped into recession last month. At best it can be termed a recovery programme.

President Cyril Ramaphosa is adamant that South Africa economic salvation lies in attracting foreign investment.

His remarks to the media yesterday – presaged by his briefing to the diplomatic corps a week earlier – laid the foundation  for an investment summit in Johannesburg next month.

He has not put flesh on the bones of his promise to invest in infrastructure and ease the country’s tough visa regime that deters skilled foreign visitors and tourists.

He is redirecting nearly three billion euros, already in the Budget, to those areas of the economy that will most impact youth, women and small business.

Neither he nor his Finance Minister Nhlanhla Nene would say which sectors will have to sacrifice their Budget allocation.

Ramaphoa will also redirect 15 billion euros to the infrastructure development  and the agriculture sector.

He says this is designed to respire the economy, attract investment and save jobs.

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The Indian leader will see President Felipe Nyusi and move on to South Africa this evening.

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Premier Narendra Modi is visiting what India regards as gateway states to Africa.

He’ll move from South Africa to Tanzania and Kenya.

He’s aiming  at enhancing ties with the continent, particularly in the economic sphere and people-to-people contacts.

The focus of his tour will be on deepening cooperation in areas of hydrocarbons, maritime security, trade and investment, agriculture and food.

This is his first visit to the African mainland as Indian leader.

His South Africa leg includes visits to Johannesburg, Durban and Pietermaritzburg.

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