Emerging economies need to access development finance on fair terms, president says
The energy minister was a panellist discussing the geo-economics of energy and materials at the WEF annual forum in Davos
South African President, Cyril Ramaphosa has called on the multilateral finance institutions of the global community to reform their practices and allow emerging economies to access development finance on fair terms.
Ramaphosa was addressing the World Economic Forum (WEF) meeting in Davos, Switzerland. He took the opportunity to tout SA’s government of national unity, Eskom’s suspension of load-shedding for nearly 10 months and the country’s presidency of the Group of Twenty (G20).
Meanwhile, South African Energy Minister, Kgosientsho Ramokgopa says African countries need political stability to attract investors, but elections like Mozambique’s, “where there was a bit of tension”, could derail investment.
“We’ve seen that there’s been a number of elections that have taken place on the continent, and there, by many accounts, …they tend to be free and fair, with the exception of Mozambique, where there was a bit of tension,” he said.
