Ramaphosa says the Zondo Commission has damaged confidence in the economy

Ramaphosa says the Zondo Commission has damaged confidence in the economy

President Cyril Ramaphosa claims that the state capture inquiry has had a cleansing effect on South Africa. However, he admitted that the commission has also done damage to the country's economy.

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The President, Cyril Ramaphosa spoke recently about the inquiry into state capture, addressing both the positives and the negatives thereof.

Ramaphosa had spoken at the World Economic Forum today assuring international investors that South Africa's economy is well on it's way to recovery and that corruption was being handled.

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However, the President did admit that the widespread corruption has damaged the nation:

“The state capture has damaged several critical institutions in the country, damaged confidence in our economy and resulted in the theft of quite a lot of money. But the commission itself has been bringing corruption on a scale far greater than many people have expected,”

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Ramaphosa said that he had come to Davos with his delegates with a single message - his administration has plans to revive South Africa's economy:

"We recognise that we cannot create work on any meaningful scale unless we grow the economy at a far greater pace and for that we need a number of things to be in place and one of those key issues is that we need more investment, particularly in the product sectors of our economy."

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Source: Briefly.co.za

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