Ramaphosa says SA 'dealing' with corruption that is 'rife' in govt & private sector

President Cyril Ramaphosa said South Africa is dealing with corruption after admitting on the global stage that the issue has had damaging effects on the country.

Ramaphosa made the admission during a fireside chat at the ASEAN Business and Investment Summit in Malaysia over the weekend.

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This is part of Ramaphosa’s latest appeal to investors in Asia as South Africa looks to diversify its trade partners amid a global trade shake-up.

He said corruption, unemployment, inefficient infrastructure and poor governance are among major challenges being addressed.

"Corruption is rife, not only in government, but the private sector. We’re dealing with that and we’re dealing with criminality and enforcing the rule of law. So, all the important indicators are getting into place and are being well aligned and addressed."

He said the country was showing positive improvements, making it a viable destination for Asian investors.

"Our economy is going to start turning around. In fact, it is already turning around. Our state-owned enterprises are also being reformed. So, we are on a good path, going forward, and rebuilding South Africa and delivering a South Africa that many countries can deal with."