South Africa's top heavy Team South Africa was faced with a mission impossible at the recently concluded World Economic Forum on Africa. The delegation was tasked in persuading business leaders and investors that South Africa is still a viable investment destination.
Other than presumed apocryphal dribble from President Zuma that "Team South Africa came out on tops once again", there is no independent corroboration that this was the case.
What investor, even one flush with "mad money" would risk investing in South Africa, plagued by two downgrades to junk status with a probable third not far off - clearly a very stupid investor. If one adds a deteriorating economy immersed in kleptocracy, ideological dysfunction and state capture, Team South Africa's sales pitch must have been synonymous with that of shady used car salesmen unsuccessfully trying to foist a lemon on a sophisticated customer.
Until the ANC government gets its political and economic house in order, Team South Africa's junkets to economic forums are a complete and indefensible waste of taxpayer money.
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