South Africa’s acting High Commissioner M M Mogale said that the business climate would remain conducive in South Africa and added that the investments made in the country would be protected even after Mandela.
Stating that Chennai has been one of the areas of interest for South Africa, Mogale urged the investors from the city to assist South Africa in defeating unemployment and poverty and cleared the air that the legacy of Mandela would continue under any circumstances.
“Even if he passes away, all the investments will be protected,” he said during an interactive session on ‘Emerging Business Opportunities between India and South Africa’ organised by the Southern India Chamber of Commerce and Industry (SICCI) recently.
He rubbished reports that the health of the anti-apartheid revolutionary and country’s first black president was critical and he was in a vegetative stage. “Mandela is recovering. He can recognise faces. He can’t speak and will be discharged soon,” said Mogale.
Mogale said that Europe was dying and added the future lay in East and Africa. He said Africa had plenty of opportunities and urged city businessmen to benefit from them. “We are there to assist you,” he said.
Mogale also highlighted some of the issues bothering the investors from Asia and said that the government would intervene to end the monopoly by some companies. Earlier, S K Hazari, executive committee member of SICCI, said that trade between India and South Africa crossed the $5 billion mark in 2007, 14 years after the resumption of diplomatic relations between the two countries.
Bilateral trade is expected to reach $18 billion in three years’ time, he said.