Corruption to dent South Africa as credible investment destination – expert

Corruption will dent the image of South Africa’s reputation as a credible investment designation, said the Minerals Council South Africa on Thursday.

The Minerals Council was responding to the letter President Cyril Ramaphosa wrote to his party African National Congress (ANC) warning against corruption.

“We welcome the President’s initiative in issuing this letter, but caution that its value will have to be measured in the extent to which guilty parties are actually brought to account,” said Minerals Council CEO Roger Baxter.

“Thus far we have seen limited real decisive action, let alone the kinds of prosecutions that could reassure the country that the blatant corruption we have witnessed in the last few months, and in the last decade, would lead to satisfactory outcomes,” said Baxter.

The council believes law enforcement agencies such as the National Prosecuting Authority, the South African Revenue Service, the Hawks and various intelligence agencies need to be allowed to act independently and be capacitated to do so, without fear of prejudice.

Baxter said those involved in corruption in government, private sector and civil society must be brought to book. He called on all stakeholders to work together to restore the economy.

There are reports of corruption in response to COVID-19 in the country. The law enforcement agencies are investigating the matter with Ramaphosa instructing all municipalities to publish the names of companies who won tenders to help in the response against COVID-19.