Shell is exiting other countries too, and many foreign firms want a piece of SA, says Patel

Global fuel giant Shell's SA withdrawal is not a reflection of a negative investment case for the country, with numerous other foreign companies keen to invest locally, says Trade, Industry and Competition Minister Ebrahim Patel.

Speaking to News24 on the sidelines of the launch of the state's industrial policy and strategy review on Tuesday, Patel said the decision also had to be seen in the context of Shell's global strategy, which had also seen it exit other markets around the world and not just SA.

Patel, who was speaking at the Tshwane Automotive Special Economic Zone (TASEZ) adjacent to the Ford plant in Pretoria, said the commentary around these corporate moves often "lacked balance", adding that it was "as if every decision that every business takes reflects extremely poorly on us".