Team South Africa returns from tough, productive WEF annual meeting - Treasury

Monday, January 22, 2024

The South African delegation to the World Economic Forum (WEF) Annual Meeting has returned back to SA, having driven home the message that the country remains a "top destination for growth and investment”.

This is according to a media statement released by National Treasury on Monday.

Team South Africa’s delegation was led by Finance Minister Enoch Godongwana and comprised the Ministers of Trade, Industry and Competition, Ebrahim Patel; Higher Education, Science and Innovation, Dr Blade Nzimande; Communications and Digital Technologies Mondli Gungubele, and Health, Dr Joe Phaahla.

Godongwana said the message to investors, civil society, businesses and governments is that despite the many challenges it faces, South Africa is making progress.

“We took the opportunity of the WEF Davos gathering to remind our partners around the world that South Africa has made tremendous progress in the past 30 years since we achieved democracy.

“Yes, we face a number of obstacles to achieving policy that balances fiscal sustainability, growth-accelerating reforms, and targeted spending on social services and infrastructure. However, we are forging ahead and making good progress,” he said.

According to National Treasury, the annual meeting – held last week in Davos, Switzerland – offered an opportunity for South Africa to engage world leaders on a number of issues.

“[It] offered South Africa’s policymakers a genuine and rare opportunity to speak directly with a cross spectrum of stakeholders in global affairs, exchanging views on how to weather the rise in geopolitical and economic tensions that are shaping today’s world.

“Climate, technology, trade and multilateral cooperation were high on the agenda, as was South Africa’s upcoming presidency of the G20 in 2025.

“In addition to its participation in the G20, the country is playing a key part in the expansion of the BRICS group, as well as the deepening of intercontinental economic integration through the African Continental Free Trade Area,” the department said. –