Thursday Like u 10 NEWS June 5, 2014 Do you have a story: Call Daily Dispatch 043 702 2000 Daily C M Y K Like us on facebook Follow us Thursday Daily Dispatch @ D i s p at c h _ D D June 5, 2014 NEWS 11 SA must attract more investment By EVAN PICKWORTH 2012. While South Africa saw FDI employment and raise incomes. double to $10-billion (R107-billion) More programmes should be OUTH Africa needs to do in 2013‚ this remained more than implemented along the lines of more to make its economy six times less than fifth-placed the successful Renewable Energy S attractive to foreign inves- Brazil. Independent Power Producer Pro- tors and catch up with other de- The US maintained its number gramme. It raised R74-billion in veloping countries‚ despite rising one spot in the survey‚ fo l l owe d the first two bidding windows and two places to become the 13th- by China‚ with India‚ Au st r a l i a was pinpointed by AT Kearney as most attractive foreign direct in- and Singapore all in the top 10. one of the major drivers behind vestment (FDI) destination global- The United Arab Emirates rose the recent growth in FDI. ly ‚says a global management con- three places to 11 main- “More programmes sulting firm. ly because Dubai is in- like that on a sector-by- The AT Kearney FDI confi- creasingly seen as a hub sector basis will take dence index‚ conducted across for investment across South Africa a long way 300 of the world’s leading multi- the Middle East and forward in attracting national corporations‚ s h owe d Africa. FDI‚” said Sprott. that South Africa improved from AT Kearney’s Martin Chief economist at 15th place in last year’s survey to Sprott said SA should be ETM Analytics George 13‚ but remains off its best level aiming for $15-$20-bil- Glynos said South Afri- of 11 reached in 2012. lion (R107-214-billion) in ca could be doing better. There is a strong relationship FDI. “When you consider between foreign investment and He said most coun- MARTIN SPROTT we are the world’s economic growth‚ and higher lev- tries that were success- biggest producer of plat- els of fixed investment ensures ful at attracting investors had im- inum – though we are not pro- that higher growth rates can be plemented structured pro- ducing at the moment – we have achieved on a sustainable basis. grammes and then driven them a huge mineral base‚ the most Protection of investment rights‚ at state or federal level. This sophisticated economy on the good governance‚ a stable econ- brought diversity to their man- continent in terms of banking omy and consistent policies are ufacturing bases‚ additional and infrastructure and are a gate- important ways to attract inves- skills‚ improved economic devel- way to Africa‚ you should believe tment‚ but South Africa has been opment and raised productivity‚ we should be attracting more.” falling short on many of these which in turn created jobs. “Th ey There was “a whole lot more” m e a su r e s . almost market their countries as that could be done to unshackle The top 10 countries in the AT a destination.” the economy‚ such as greater pri- Kearney survey attract half of Sprott said FDI was an ideal vate sector participation in elec- global FDI‚ which was measured vehicle to compensate for SA’s tricity management‚ or in the mo- at $1.4-trillion (R15-trillion) in low savings rate and to increase bile space. — BDLive Top Eskom executives to forego their bonuses POWER utility Eskom said yes- Department of Public Enter- terday that its senior execu- prises‚ is in discussions with tives would not take their an- the National Treasury to find a nual bonuses for the 2013-14 long-term solution‚” said Matji- financial year to cut costs. la. Interim CEO Colin Matjila The National Energy Regu- said top executives had ac- lator of South Africa (Nersa) knowledged the financial con- approved a tariff increase of 8% straints Eskom was experien- which left Eskom with a fund- cing. Eskom is expecting a ing gap. Eskom said that in R225-billion revenue shortfall r e sp o n s e ‚ it had set up a special over the five-year period be- joint committee which would tween 2013 and 2018. consider a range of non-con- “While significant shifts ventional sustainable funding have been made in terms of solutions‚ including equity/eq- business operations to achieve uity-like instruments. internal efficiencies‚ the com- “It is important that Eskom pany is certain that this rev- remains financially sustain- enue shortfall cannot be able to enable us to keep the achieved by belt tightening lights on whilst we complete alone. It remains important to the new build programme that move towards a cost-reflective will ease the pressure on the tariff urgently. Eskom‚ through national grid‚” Matjila said. — CUTTING COSTS: Eskom interim CEO its shareholder ministry‚ the BDLive Colin Matjila Connect with us on Visit us on Facebook: Tu e s d a y Twitter – @HeraldPE w w w. f a c e b o o k . c o m / T h e H e r a l d E C N E WS April 29, 2014 3 IN BRIEF Mafikizolo steal Paul Simon, wife in court afterdispute SINGER-songwriter Paul Simon and his wife, singer Edie Brickell, appeared in court yesterday after their arrest at the weekend at their Connecticut home due to disorderly conduct. show at Samas Police in New Canaan, Connecti- cut, a suburb of New York, said they went to Simon’s home on Saturday Duo take home HOME RUN: Mi Casa accept the award for best dance album night to investigate a family dispute. Simon, 72, and Brickell, 48, were arrested and released. During their court appearance yesterday Simon seven gongs at told the judge the disturbance was due to a rare argument. The judge ordered the couple to music awards return to court on May 16. Simon is a 12-time Grammy winner Andile Ndlovu who shot to stardom as half of the duo Simon and Garfunkel. He later embarked on a successful solo AST NIGHT’S 20th SA Mu- career. Brickell, a folk rock singer, sic Awards confirmed married Simon in 1992. They have that this is Mafikizolo’s three children. – AFP world, and the rest of the industry has a challenge to dethrone them. Wo r l d ’s ‘toughest LThe duo of Nhlanhla Nciza and Theo Kgosinkwe took home seven mountain race’ Sama gongs in total, to cap off a stel- lar 12 months, and very few can de- THOUSANDS of ski-mountaineers will ny that they are in the purple patch make their final preparations today of their career. for a gruelling mountain race through Hours before the main ceremony IN THE GROOVE: Ifani open the show at Sun City the Swiss Alps that is billed as the at Sun City’s Superbowl, the duo toughest in the world. had already been named leaders of The 5 400 competitors in the the digital market – winning Best “Patrouille des Glaciers” – French for Selling Mobile Music Download, “glacier patrol” -- have their eyes Best Selling Ring-Back Tone and glued nervously to the weather Best Selling Full-Track Download reports after heavy snow forced organisers to push the start from for their comeback smash Khona. today to tomorrow The song propelled them to four The iconic event, which combines nominations at the upcoming MTV ARRIVING IN STYLE: Mafikizolo’s Nhlanhla Nciza and Theo Kgosinkwe walk the red carpet at the 20th South skiing and climbing, is organised Africa Music Awards. every two years by the army. Eastern Cape songbird Zahara African Music Awards at Sun City last night Pictures: LAUREN MULLIGAN Participants must be able to ski won the Female Artist of the Year Casa, Gangs of Ballet, Nakhane Queen Rebecca Malope and Boity Memory Remains tied to their teammates, as well as award for Phendula. ý Newcomer of the Year: Naima Kay – scale mountains with their skis on Mafikizolo, who had the audience Toure and Naima Kay. Thulo – generations apart – pitched Lifetime Achievement Award re- Umsebenzi their backs. – AFP on their feet during their perform- in the same gown. ý Best Rock Album: Van Coke Kartel – cipients Ladysmith Black Mambazo Notable winners: ance, also won Album of the Year Bloed, Sweet & Trane and Phuz’ekhemisi enjoyed a rau- ý Album of the Year: Mafikizolo – Reunit- ý Best Pop Album: Mafikizolo – Reunited Beyonce, JayZ set (Reunited), Duo or Group of the cous standing ovation after treating ed ý Beste Pop Album (Afrikaans): Karlien Year, Best Pop Album and Best Col- the fans to back-to-back performan- ý Duo or Group of the Year: Mafikizolo – van Jaarsveld – Uitklophou to tour together laboration for Happiness, the col- Reunited ý Best Adult Contemporary Album: ces of their popular hits. ý Female Artist of the Year: Zahara – Shaun Jacobs – Love Can laboration with May D. But there were also cringe-wor- Phendula ý Best Live DVD: Zonke – Give and Take BEYONCE and Jay Z, pop music’s Other performers included Mi thy moments along the way; gospel ý Male Artist of the Year: Kabomo – Live EARTHY PERFORMANCE: A member of The Soil takes to the stage first couple, will tour together this year for the first time, the R&B singer and rapper said yesterday. Beyonce, 32, and Jay Z, 44, who have collaborated on several songs, Reprieve for Kunene as Khanyi Mbau gets ‘r o a s t e d’ will begin their 16-date North American On the Run tour on June 25 at the Sun Life Stadium in Miami.