The government has been told to get its house in order ahead of its investment summit later this year - a move necessary if it hopes to convince local businesses to provide at least half of the targeted $100-billion (R1.4-trillion) sought. While Mercedes-Benz this week announced a R10-billion expansion of its East London plant, international credit ratings agency Moody's flagged "tepid business confidence" and land reform as stumbling blocks to investment in the short term. The continuation of subdued investment, a phenomenon that had plagued the economy, highlighted the business community's "continued caution in anticipating effective change", Moody's said.Relations between the government and business have improved under President Cyril Ramaphosa's administration. But Tanya Cohen, CEO of Business Unity South Africa, said the "dual challenges of poor policy co-ordination and the lack of implementation play out and reinforce the uncomfortable reality of policy uncertainty". Cohen was...
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