BASA MD, Cas Coovadia has commented that the move is detrimental to South African economic growth. The growth of the last 18 months and confidence built between investors as well as rating agencies will be severely impacted. "This action by the Presidency rolls back the progress we have made as a country. It also militates against the imperative of ensuring political and policy certainty." Read More about Active vs. Passive Investing Below
David Maynier, DA shadow minister of finance said the president’s instruction to the finance minister is a major setback for the economy in South Africa.“The instruction to cancel the international investor roadshow without explanation is so bizarre that it appears, at best, calculated to humiliate the minister or, at worst, to suggest that the minister is about to be fired in a cabinet reshuffle.