KZN working towards economic recovery, says Zikalala
KwaZulu-Natal Premier Sihle Zikalala says the province has stepped up its rebuilding efforts amid low investor confidence due to the recent wave of looting.
Zikalala briefed the media on Sunday after a week of talks with international investors trying to convince them to put money towards rebuilding the provincial economy.
“Our economy has been negatively impacted by the Covid-19 pandemic. The recent riots have added to the downside risks and compounded our prospects for economic recovery. And as such, investor confidence has been severely affected. This has had a dire effect on jobs and the economy at large.
We have since put in place a number of strategies as part of our recovery process.”
Zikalala says all international diplomats representing 40 countries have committed to retain investment in the province, and even pledged new investment in the future.
“This is a welcome boost for KZN, and an overwhelming vote of confidence in the economic fundamentals which define the province as a conducive and preferred investment destination.
We have intensified our rebuilding efforts in KwaZulu-Natal through strengthening social cohesion, advancing peace, and promoting moral regeneration.
“We are working with the religious leaders, traditional leaders, civil society organisations and the business community to address the root causes of the recent unrest and violence.”
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