Ramaphosa insists South Africa is not a Third World country

President Cyril Ramaphosa used the launch of the South African Reserve Bank (SARB) Museum to hit back at some in the West who characterise South Africa as a Third World country.

He even referenced US President Donald Trump previously labelling South Africa as a “s**thole”.

‘We have a big, loud voice’

“People in the Northern Hemisphere always call us a Third World country. One other president once called us a ‘SH’ country and all that,” said Ramaphosa.

The president said South Africa is a developing economy.

“We are very proud of that. We are a middle-income country and we are a middle power and we have a big voice, a very loud voice.

“When we speak, they sit up and listen. Whether they want us there or not. Even when we are not there in November, they will find that there is South Africa in our midst at the G20, we will be there,” Ramaphosa said.

Launch of SARB Museum

The Presidency said the SARB Museum will enhance understanding of the central bank’s role in the economy.

It also said it will improve financial and economic literacy in South Africa with a school outreach programme.

“This programme is aimed at inspiring learners to pursue careers in economics and central banking by challenging them to write and present their own [Monetary Policy Committee] statements.”

“The museum traces the country’s economic heritage, exploring how ideas of money, value, trust and institution-building have evolved over time – from early forms of exchange to the central bank’s establishment in 1921 and its role in a democratic South Africa.”

Tensions between SA and US

Ramaphosa’s comments come as the tension between South Africa and the US persists after Trump claimed there is a targeted killing of white Afrikaners in the country.

Trump then refused to attend the G20 Summit in South Africa last year. The G20 presidency is also held by the US this year and has seen South Africa excluded from some diplomatic meetings.

South Africa was also left off the list of invitees to the G7 leaders’ summit in France in June, despite being a regular guest at past summits.

At the time, South Africa claimed the US had threatened to boycott the summit if it was invited.

“We’ve accepted the French decision and appreciate the pressure they’ve been subjected to,” said Ramaphosa’s spokesperson Vincent Magwenya.

France, however, denied being pressured by the US, saying it decided to invite Kenya instead of South Africa because its president, Emmanuel Macron, was due to visit Kenya in May for an Africa-France summit.