Patel: R16bn Ford investment intact despite unrest

This follows concerns that the country’s recent unrest may have scared off investors.

But government assured South Africans they were hard at work to restore the dwindling investor confidence. 

Patel briefed media on Thursday where he said the Zondo commission had given the motor company reason to believe in the country’s legal system. 

This, according to Patel, was reason for Ford not to withdraw its multibillion investment. 

“They were not the only investor that appreciated that this is a jurisdiction of rule of law. In other words, the judiciary is independent, that they have to apply their minds to the facts and the law, that they make decisions - whether we like the decision or we don’t like the decisions - that as a country we implement those decision.

“This is a very significant signal that South Africa follows a path of rule of law.”

The investment by Ford, which is the largest in the history of the local automotive sector, was expected to create some 10 000 new jobs.  

“They confirmed in the meeting that that R16 billion investment is on track and will be completed,” Patel added.

“But we then talked about how we can go beyond that R16 billion and what is required support Ford’s efforts to grow its output even more in South Africa.”

Patel also detail the department’s plans to help businesses recover from the destruction caused during the unrest.

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