Branson puts UK in the same pot as SA

Richard Branson believes South Africa and the UK are in the same boat - battling choppy economic and political waters.

Branson was in Cape Town yesterday to unveil Virgin Active's newest luxury gym and, at the same time, launch Virgin Money Insurance.

Despite the dire economic outlook for South Africa, the flamboyant businessman's company is making record investments here.

"South Africa is having a tough time, but so is the UK. So could America if the election goes the wrong way and a man not a woman gets elected.

"As businesses we've just got to get on and deliver and hope that the politicians will realise that what they need to do is bring as much stability to their countries as possible," said Branson.

His luxury gym offers suspension yoga, a boardroom for members and even a shoeshine bar.

At the launch of Virgin's short-term insurance company, Branson remarked it was '"wonderful news" that Finance Minister Pravin Gordhan was "exonerated" yesterday.

Virgin's South African portfolio includes gyms around the country, mobile operations, a 26-bedroom hotel and vineyards in Franschhoek.

Virgin Active South Africa managing director Ross Faragher-Thomas said 14 new gyms would open this year.

"Our investment is at unprecedented levels and trading through these times is important for us," said Faragher-Thomas.

Branson said he was making investments in their hotel and airline businesses, but "hoped that stability could be brought to the political situation in South Africa".