Investment will be protected in post-Mandela South Africa, assures envoy

Chennai:

South Africa’s acting high commissioner M M Mogale on Monday said that business climate will be conducive in South Africa and the legacy of South African President Nelson Mandela will continue either he is there or gone.

Stating that Chennai and particularly South Africa has been areas of interest for South Africa, Mogale urged the investors in Chennai to assist South Africa in defeating unemployment and poverty while clearinmg the air that the legacy of Mandela will continue if he is there or not.

“Even if he passes away all the investment will be protected,” he said during an interactive session on ‘Emerging Business Opportunities between India and South Africa’ organized by The Southern India Chamber of Commerce and Industry.

He said that Mandela is recovering and rubbished reports that the health of the anti-apartheid revolutionary and country’s first black president is critical and he is in a vegetative stage. “Mandela is recovering. He can recognize the faces. He can’t speak and will be discharged soon,” said Mogale.

Mogale said that Europe is dying and the future lies in East and Africa. He said that Africa has plenty of opportunities and urged the city businessmen to avail of it. “We are there to assist you,” he said.

Mogale also highlighted some of the issues bothering the investors from Asia and said the government will intervene to end the monopoly by some companies.

Earlier, S K Hazari, executive committee member of Southern India Chamber of commerce and Industry, said that trade between India and south Africa passed $5 billion mark in 2007, a mere 14 years after the resumption of diplomatic relations between the two countries. Bilateral trade is expected to reach $18 bn in three years time, he predicted.