Business Unity South Africa concerned xenophobic attacks could dampen investor sentiment

APRIL 20, 2015

Business Unity South Africa (BUSA) on Sunday said that it was concerned that the violence against foreign nationals could have a damaging effect on overall investor sentiment on the country.

“In an environment where our economy is experiencing fiscal constraints and where economic growth is not at the level required to create the much needed jobs in order to achieve the National Development Plan (NDP) vision 2030, the last thing we need is a further dent on investor confidence,” BUSA said in a statement.

“The continued violence against foreign nationals is sending a negative message to the international business community and could potentially affect South African businesses that are operating in the region and the continent.”

BUSA welcomed the leadership shown by government, but called for an immediate end to the attacks on foreign nationals.

“South Africa’s political stability makes the country highly attractive to immigrants; South Africa has entered into bilateral and multilateral trade agreements which amongst others facilitate the movement of goods and people into South Africa from the region and the continent,” BUSA said.

“While we do not support illegal and undocumented foreign nationals to enter South Africa, we have confidence in our immigration framework and administrative institutions and we believe government should deal with illegal migrants within the parameters of our legal framework.”