Trade and Industry Minister, Rob Davies, said that Cyril Ramaphosa, is going to be "a no-nonsense" President.
Minister Davies was speaking at the official launch of Isuzu Motors South Africa which took place its Struandale production facility in Port Elizabeth on Friday.
He said Ramaphosa is committed "to putting rights, those things that are wrong", citing recent changes to the Board of Eskom as a case in point.
In a wide-ranging chat to the media, Minister Davies pointed to the good sentiment shown towards South Africa during World Economic Forum in Davos Switzerland.
"I can assure you that top of President Ramaphosa's agenda is to ensure that we improve the climate for investment and that we improvement investment. And, I think Isuzu has made a bet at a time which may have been a bit more challenging but they've made a bet which I think is going to bring good results to them," Davies said.
"We can use that sentiment experienced in Davos. We have a new President in place, that President is a no-nonsense President. Even before we went to Davos he made sure that we had sorted out the question of Eskom, which was going to become a millstone around our neck, very quickly. An action-orientated President and I think that all bodes well for us as we move ahead," Davies said.
Isuzu Japan took 100% ownership of the light commercial operations in Port Elizabeth as well as the balance of its shareholding in its Isuzu Trucks South Africa operations when General Motors disinvested from South Africa, retaining more than a 1000 jobs in the process.
Isuzu President and Representative Director, Masanori Katayama, said they were committed to growing their business in South Africa and on the continent.
"This is the first commercial and light commercial vehicle manufacturing operation outside of Japan in which we have acquired a 100% ownership. We are represented in 30 countries outside of Japan and successfully operate 47 manufacturing plants in these countries with joint venture partners," he said in a statement.
"Our decision with regards to South Africa demonstrates the confidence we have in this market and also is indicative of our longer-term view that South Africa will serve as an important base for our future growth on the African continent."
Isuzu Motors South Africa CEO and MD Michael Sacke said that the company's initial focus would be to fully consolidate its operations while laying the foundation for the company's future success.
"Our short-term focus is on implementing our transitional plans, ensuring the sustainability of our operations, further strengthening our product portfolio and relocating the truck operations from Kempston Road to the Struandale plant. As we do this, we will need to demonstrate excellence in everything we do and the ability to lead in key segments of the market."
Sacke said that in the medium term the company would need to plan for the successful launch of future products, implement measures to increase its domestic market share and increase its exports into Sub-Saharan Africa markets.
Isuzu said it was making positive strides in Africa with the acquisition a year of ago of a 57.7% majority shareholding in the Kenyan truck and bus assembly operation which supplies Isuzu vehicles to East African markets. The company said it had a "leading 34% share of the Kenyan new vehicle market."
"Isuzu also has a 20% shareholding in joint venture manufacturing operations in Egypt, and where the company has led in the market for 10 years in a row. The light commercial vehicle pick-up which is produced there and accounts for over 90% share of the market segment, is derived from the Isuzu KB pick-up," the statement said.
Sacke emphasised the important role the South African government has played in enabling the establishment of the new company. "There can be no doubt that this government is committed to preserving and growing the automotive industry in South Africa."
Isuzu also used the official launch of its business operations to announce that it was entering the Sports Utility Vehicle segment with the introduction of the popular Isuzu mu-X into the South African and Sub-Saharan Africa market in the second half of the year.
(Statement:Supplied)
