Can Zuma Revitalize South Africa’s Economy?

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May 7 (Bloomberg) –- Bloomberg’s Nasreen Seria reports on South Africa’s election and if President Jacob Zuma, who is expected to win another term, will be able to revitalize the economy with his 20-year plan. She speaks to Mark Barton and Anna Edwards on Bloomberg Television’s “Countdown.” (Source: Bloomberg)

Hit as the economy slows.

Do you think investors are convinced of his plan?

Good morning.

I think investors are looking to the incoming administration to provide some policy certainty and policy clarity.

Key to that will be implementing its program called the national development plan.

That seems to boost economic growth to more than five percent and bring down the jobless rate, 14%, and provide a bit -- a better business climate in which mining companies can operate.

At the moment, south africa is in the midst of a three-month platinum strike.

The immediate priority of the administration is going to be to bring some kind of stability to the mining industry.

That will go a long way to provide and restore confidence.

South africa has been overtaken by nigeria as the biggest economy on the african continent.

We have the world economic forum starting in nigeria today.

Our investors following suit in choosing nigeria over south africa?

It is no doubt that nigeria has immense growth potential.

It is africa's biggest oil producer and most populous nation.

A large consumer market.

However, nigeria does have deep rooted problems.

It is battling an insurgency in the north.

We have seen violence spreading to the capital.

There were two bomb attacks in the past month that left more than 90 people dead.

We have seen the 200 schoolgirls that were kidnapped in the north.

A deep-seated problem.

South africa's wealth -- it has the deepest financial markets on the continent.

Until nigeria can catch up, south africa will continue to be a favorite destination for investors.

Thank you.

This text has been automatically generated. It may not be 100% accurate.


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