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Lungisa Fuzile, CEO of South Africa
"We are extremely optimistic about the future of this country … much more than we were before December and we we have certainly been shaken in February by a change of president. ", said Fuzile, former general manager of the Treasury, speaking frankly Tuesday night in Sandton.
Fuzile, who was appointed CEO of Standard Bank in December, said that the largest African lender allocated 10 billion rand to the renewable energy sector, the bank had planned that agreements with the Independent Power Producers (IPP) would be signed after the victory of Ramaphosa
Agreements for the construction of 27 PPI projects, with an estimated investment value of R56bn, were signed after several delays in April. "Of course, we were hoping that other areas would take off but they did not take off as quickly. … so we are looking for opportunities and energy not only for South Africa, but also across the continent, "Fuzile said. who resigned from the Treasury in April 2017 after twenty years in the civil service, warned that it is "unrealistic" to think that Ramaphosa could have straightened the economy in a few months after becoming president of the country in February . Of course, emotionally, because of the difficulties of the February period, there was a change, people were expecting the economy to run at full speed, too quickly. Fuzile was part of a high-level round table Tuesday night. How to manage risks in the era of increasing protectionism
Zhang Tao, Deputy Managing Director of the International Monetary Fund, Chen Siqing, President of the Bank of China, and Vice President and Chief Financial Officer of the new Development Bank Leslie Maasdorp has all denounced the protectionist measures instituted by the Trump administration in the United States, saying that globalization is irreversible.
According to Fuzile, he expects the leaders of the five BRICS to make a firm statement against the threat of increased imports. prices. State leaders from Brazil, Russia, India, China and South Africa will attend the Brics Business Forum on Wednesday afternoon where a thousand delegates are expected to discuss problems.
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