Fin Min’s mid-term budget speech boosts investor confidence – Govt

A leading United States investor has announced plans to invest over $1-billion (R14.1-billion) in South Africa over the next few months. This follows after Finance Minister Malusi Gigaba tabled what was according to a statement, a difficult medium-term budget in Parliament on Wednesday. According to a statement from the South African government, Ambassador Harold Doley, Jr, a Governor of the African Development Bank, said as an international investor, the medium-term budget which gave a frank assessment of the state of the fiscus and the economy, has signalled for investors to commit resources to South Africa.   “We think that what you have done is tabled a watershed budget and as an international investor, you have sent a signal to a group of investors that I represent as a lead investor that we are going to invest over the next several months,” Doley said in a statement.