For a long time South Africa was a “no-go zone” for foreign investors because the country was shitty to blacks. For the past couple of years, foreign investment has lagged in part because of the widespread impression that the country is pretty shitty for everyone now.
Today’s New York Sun reports on a conference meant to change investors’ impression of the place:
Peter Linley, chief investment officer of Old Mutual Asset Managers, the largest such institution in South Africa, made the case that the country’s markets have fundamentally changed. He thinks the political risk in South Africa has been overestimated, and acknowledged that the country’s image has been unfairly tarnished by regime changes in other African countries.
And we totally see what they’re saying. South Africa’s practically Australia these days, if you don’t count all the AIDS, economic dependence on mining and that whole Zimbabwe-is-going-to-Hell thing they got going on next door.
South Africa Comes of Age and Pitches Investors [New York Sun]