Biting the hands that feed us
3 September 2015
The ruling African National Congress (ANC) seems intent on alienating the West and adopting a rigid pro-Russia and pro- China stance, says the IRR (Institute of Race Relations).
But the Western countries it is busy targeting have long been South Africa’s most important investors, whereas investment from China and Russia is very limited.
The figures tell the story, the IRR goes on. “In December 2013, the total value of foreign direct investment (FDI) in the country was close on R1 600bn, of which at least R1 350bn or 85% was from the West.”
Similarly, while the total value of foreign indirect investment (mainly in equities and bonds) was then roughly R2 700bn, at least R2 435bn or 90% was from the West.