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| Friday, 25 October, 2002, 11:52 GMT 12:52 UK South Africa 'scares Japanese investors' ![]() Taxi wars are part of South Africa's violence problems South Africa could be in line for a massive hike in investment from Japan - but only if the country can tackle its reputation for crime. A delegation of Japanese executives from powerful employers' confederation Keidanren is spending a week in South Africa examining investment opportunities. But the leader of the delegation, Satoru Anzaki, has warned in an interview with Reuters that his fellow Japanese are scared of South Africa's image as a haven for carjackers and other street criminals. Potential investors, he said, are also worried about reports of corruption in high places. Growing trade The trip marks a boost for Japanese trade with South Africa, which has improved since end of apartheid, and 1994's election of an African National Congress government. South Africa, under white rule, had seen little trade with Japan. But by this year, business with Japan made up 9.4% of South Africa's total export revenue, and 7.3% of imports. "The future direction will be one of persistent growth in investment here," Mr Anzaki said. Empowerment controversy However, the investment environment in South Africa needed to become more predictable, he added. The high incidence of HIV/Aids represented one worry, he said, while recent controversy over government policies to boost black empowerment was also concerning. He cited a leaked preliminary draft of a mining charter advocating 51% black ownership in new ventures, and 30% in existing ones. The final draft was more restrained, calling for 26% ownership within a decade. But violence and safety were at the top of the list of worries. "There are many opportunities here," Mr Anzaki said. "But... there is a lack of understanding on our part on the areas of sanitation, safety and health." | See also: 24 Oct 02 | England 22 Oct 02 | Business 10 Oct 02 | Business 04 Oct 02 | Business 02 Oct 02 | Business 19 Sep 02 | Business 20 Aug 02 | Business Top Business stories now: Links to more Business stories are at the foot of the page. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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