Gigaba flies solo on first investor road show

Minister of Finance Malusi
Gigaba will embark on an
international road show to the
United States (US) this week to
“restore investment confidence”
in South Africa.
He is scheduled to attend the
annual Spring Bank Meetings
which kick off in Washington
this Friday. Delegates from
the World Bank and the
International Monetary Fund
are among the attendees.
Following this, Gigaba is
scheduled to meet investors
in Boston and New York and
will also meet ratings agency
Moody’s in an attempt to avoid
a third credit downgrade.
Controversially, this
road show bucks the trend
by excluding the large
contingent of high-profile
civic and business leaders that
traditionally accompany the
finance minister. National
Treasury spokesperson,
Mayihlome Tshwete,
confirmed that the minister
would be travelling with
Treasury officials only.
Democratic Alliance
Shadow Minister of Finance,
David Maynier, said this
raised “serious questions” over
Gigaba’s ability to convince
banks, ratings agencies and
investors that there would be
no policy uncertainty.