South Africa hit by investment strike

Confidence issue: A file picture showing work in progress at a platinum mine. Companies are at risk of closing some unprofitable shafts in South Africa, which would lead to job cuts, according to Froneman. — Bloomberg

INVESTORS have lost faith in South Africa’s government and have halted investment despite a wealth of opportunities.

More than 200 days of power cuts last year and blackouts every day so far in 2023 have dented confidence, as has the poor performance of the state transport utility and a plethora of other problems.