World Cup has lifted SA to the fore : Zuma

Published Wed, Jul 07 10 01:07 AM

Cape Town, Jul 6 (PTI) President Jacob Zuma today said the ongoing football World Cup has helped South Africa project itself as a key world player when it comes to organising events of such magnitude and make "good returns" from the tourist inflow due to the games. "They have seen the warm friendly people of our country; they have seen the precision when it comes to planning and arrangements and they have seen the efficiency when it comes to our security," Zuma told about 80 portfolio fund managers from across the world. "A mere 20 years ago, nobody could want to come here. Apartheid seemed near impossible to overcome, but we did (overcome it). We did not give up. We overcame," he said. He said while the World Cup, like the Rugby World Cup in 1995, had the ability to unite South Africans and transform the country, it would also leave a lasting legacy on education as well as new sports centres which FIFA had pledged to build. Added to this, South Africa had made "good" returns from the World Cup, which includes R32 billion spent on transport, infrastructure and telecoms and 66 000 jobs were created through the building of new stadiums. "I don''t think any would say no, if we say let us have the Olympics, because we have the facilities," said Zuma. He urged fund managers, from countries such as Finland, Singapore, Chile and the UK, to explore Africa''s many investment opportunities. "Africa is open for business, explore your opportunities and find new partners and find returns on your investment. It is a positive time," said Zuma. He said the new global framework being drawn up by the G20, of which South Africa is a member, must create new opportunities for new centres of economic growth and allow new entrants into the mainstream. He also called for a relook at how heads of the World Bank and International Monetary Fund (IMF) are elected and said the process needed to be more "thorough and just" and not simply be based on the nominee''s nationality. Historically, the IMF''s managing director has been European and the president of the World Bank has been from the US.

Source: Web Search