Companies no longer have confidence in SA - Motlanthe

Private corporations are not investing in South Africa as the companies no longer have confidence in the country as it currently stands.

This was the message from former president Kgalema Motlanthe when he addressed about 50 ANC supporters at Nelson Mandela University Missionvale Campus on Saturday.

Motlanthe has taken the podium

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"They keep their money in liquid form in the bank because there is mistrust between government and private sector. What we should do is to address that mistrust," he said.

"Unfortunately corresponding socio-economic transformation has not yet taken place partly remnants of systematic exploitation and discrimination from the extended period of colonialism remain."

Motlanthe said it was disturbing that the socio-economic situation in which large numbers of Africans and coloureds found themselves in had not improved after apartheid but had in fact become worse.

Motlanthe was the keynote speaker at the ANC Robert Matji political school.