Trade, Industry and Competition Minister Ebrahim Patel says Shell’s decision to exit SA isn’t a reflection on the country’s attractiveness as an investor destination. (Nick Wilson/News24)
Global fuel giant Shell’s SA withdrawal is not a reflection of a negative investment case for the country, with numerous other foreign companies keen to invest locally, says Trade, Industry and Competition Minister Ebrahim Patel.
Speaking to News24 on the sidelines of the launch of the state’s industrial policy and strategy review on Tuesday, Patel said the decision also had to be seen in the context of Shell’s global strategy, which had also seen it exit other markets around the world and not just SA.
Patel, who was speaking at the Tshwane Automotive Special Economic Zone (TASEZ) adjacent to the Ford plant in Pretoria, said the commentary around these corporate moves often “lacked balance”, adding that it was “as if every decision that every business takes reflects extremely poorly on us”.
South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we’re about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.