Hain urges companies to invest

Peter Hain, the South African-born British Minister for Africa, on Wednesday urged British companies to invest in South Africa, predicting that the country would become one of the top destinations for foreign capital during the next decade.

Addressing the South African Institute of International Affairs in Johannesburg, Hain reportedly said: "South Africa has an increasingly strong economy. It's a great place to do business in. We are encouraging British companies to look positively at the exciting opportunities available here."

Hain praised the government's economic team of Trade and Industry and Finance ministers Alec Erwin and Trevor Manuel, adding that over the next decade or so, South Africa will prove to be one of the foremost destinations for investments, both direct and portfolio.