Cape Town: Minister of Trade, Industry and Competition Parks Tau says engagements at the World Economic Forum (WEF) Annual Meeting are a platform for South Africa to show that it is addressing the challenges facing the economy and the country. The Minister was speaking during a media briefing following the pre-WEF Annual Meeting breakfast session held on Thursday. The annual meeting will be held from Monday next week and is expected to conclude on Friday.

According to South African Government News Agency, Minister Tau emphasized the importance of attending the WEF meeting in light of South Africa’s ambitions to establish itself as a prime investment destination. The Minister noted that individual and collective engagements with influential business and government leaders at Davos would be invaluable in boosting the country’s economic prospects. Tau stated, “If you look at the individual diaries of the individuals that would be there, it is quite extensive the number of people and influential business and government leaders that would be engaging.”

The South African delegation at the meeting is expected to be led by President Cyril Ramaphosa, along with several Ministers and leaders from civil society and the business sector. During the pre-WEF briefing, business leaders expressed support for Team South Africa. Standard Bank Chairperson Nonkululeko Nyembezi highlighted the need for alignment between government and business, emphasizing the role of the business community in communicating the country’s progress and challenges.

Discovery CEO Adrian Gore expressed optimism about South Africa’s participation in the WEF meeting, noting a sense of change and collaboration within the country. He remarked on the evolving partnership between business and government, describing it as a powerful construct that is yielding positive results for South Africa. Gore stated, “I think from a business perspective, I think there is an unequivocal feeling that this year is different.”