President Cyril Ramaphosa says he is encouraged by investors’ faith in the country’s energy, transportation, telecommunications, and immigration reforms.
After SA’s fourth Investment Conference, which targeted to attract R1.2 trillion in fresh investment over five years, he made the statements in his Monday weekly email.
Last week’s conference raised R332 billion, boosting the total value to R1.14 trillion. With a year to go, SA has already achieved 95% of its goal, according to Ramaphosa.
“This was an impressive amount of investment commitments in the midst of a pandemic that has dampened the global investment climate for more than two years. Such is the appetite of global investors for our economy that this year saw pledges from traditional trading partners in the EU, US, China and the UK, but also from Canada, Mauritius, Norway, Turkey and Pakistan.”
The government has also received finance pledges from the United Arab Emirates, where a South African delegation led by Ramaphosa is promoting the country to investors from the Gulf and beyond.
SA won investment pledges in mining, agricultural, and automotive, as well as renewable energy generation, pharmaceuticals, clothes and textiles, infrastructure and logistics, telecoms, and the digital economy, during the Investment Conference, he said.
