DAVOS, South African Deputy President Cyril Ramaphosa will hold bilateral discussions Thursday with the heads of government of Britain, Denmark and The Netherlands on the sidelines of the World Economic Forum 2018 beig held this week in Davos, Switzerland.

As Ramaphosa continues engaging world political and and business in Davos, at home the Rand has been strengthening. The currency broke through the 12-Rand level against the US dollar for the first time in two-and-a-half years Wednesday after strengthening by nearly one per cent against the greenback since the start of the year.

The Rand firmed to around 11.94 to the dollar, mainly on the back of the dollar's weakness against other major currencies.

Analysts said the current drive by the ruling African National Congress (ANC) to restore South Africa's investment image after corruption scandals involving senior officials is also helping market sentiment.

Ramaphosa will meet British Prime Minister Theresa May and Danish Prime Minister Lars LA�kke Rasmussen as part of forging partnerships between South Africa and members of the international community which will be mutually beneficial and will contribute to the resolution of issues facing the global community.

He will also hold a media conference at the WEF Media Village, in addition to high-level interviews with global television networks, as part of building confidence in South Africa among stakeholders who are not present at the Forum.

The South African delegation to the World Economic Forum 2018 (WEF) in Davos has been assuring governments, investors and financial institutions that South Africa is politically stable, that the country is improving governance at State-owned enterprises (SOEs) and that investment opportunities in the country are plentiful.

On Wednesday, he continued with a series of bilateral meetings with the current African Union (AU) Chairperson, Guinean President Alpha Conde, as well as President Emmerson Mnangagwa of Zimbabwe. He was to meet Mauritian President Ameenah Gurib-Fakim on Wednesday evening.

Earlier, the Deputy President participated in a WEF breakfast session on peace-building in Africa where President Conde delivered the opening remarks. Also participating in the session was President Paul Kagame of Rwanda.

Ramaphosa, along with South Africa's Ministers for Planning, Monitoring and Evaluation; International Relations and Co-operation; Trade and Industry; Economic Development; Finance; and Public Works, and the Governor of the South African Reserve Bank also participated in a WEF Country Dialogue.

South Africa's ministerial delegation has participated actively in a range of discussion platforms and bilateral meetings with international public and private sector leadership who have existing interests in or are exploring new opportunities in South Africa as a leading emerging market.

Source: NAM NEWS NETWORK

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