Cabinet inaction over looting has dented investor confidence

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State failed at the onset of the violence to take control rapidly and to show rule of law still matters

Clean-up operations continue in Vosloorus, east of Johannesburg, after looting and rioting in the area. Picture: ALAISTER RUSSEL/SUNDAY TIMES

Ironically, it was not the hundreds of videos of looters storming shopping malls, factories and businesses that did the most damage. Nor was it the glaring media headlines that made their way about the world of protesters blockading SA’s busiest roads and burning trucks. Or social media posts of frightened residents hiding from gunshots in their homes.

That evocative call was nowhere to be seen last week when protesters embarked on a looting frenzy not seen in SA since the dawn of democracy He embarked on an exercise to understand what investors wanted and what was holding back investment. He appointed investment envoys and instructed them to raise $100bn in investment in five years. He convened an Investment Summit.

Why, they will be wondering, would they invest in a country where the safety of their property and stock cannot be guaranteed? Why would they invest in a country where the rule of law cannot be enforced? Why would they invest in a country where the government is obviously not in control? Unfortunately for South Africans, investors have not received satisfactory answers to those questions, even as the violence abates.

 

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