Monthly Archives: January 2016

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Davos Will Not Help African Economy

Africa’s growth does not depend on the decision of Davos according to analysts.

The Times South Africa said the continent did not depend on their visits to Davos to ask for favours that would benefit the country. The newspaper editorial said Africa is linked to the global economy and hosting an annual economic forum in their own country can help make matters better.

The newspaper said SA President Jacob Zuma must stop trying to sell South Africa to the world every time he visits Davos in Switzerland. Reaffirming his stance that South Africa’s economy is a potential gain for any country does not guarantee developed and other developing nations would immediately work with South Africa’s economy.

The paper suggests seeking new markets. It also stressed maintaining the existing economic agreements in the country to help it grow. South Africa, according to The Times, is looking as if it was begging for the world to invest in its country.

Currently, South Africa’s economic downturn is due to failing Chinese demand with the latter’s economy gradually falling. However, The Times editorial suggested that South Africa is rich in resources and manpower, making South Africa a preferred investment destination.

South Africa can only grow, according to The Times, if it would be prioritised by neighbouring countries for trade instead of relying on non-African nations to help its economy prosper.