Mathabatha: China’s investments will bring development in SA

Limpopo Premier Stan Mathabatha says at least 21,000 jobs will be created starting in March.

FILE: Limpopo Premier Stanley Mathabatha. Picture: Facebook

JOHANNESBURG – Limpopo Premier Stan Mathabatha has told Eyewitness News that China's investment in South Africa will help develop the country instead of plunging it into debt.

His province has secured close to R140 billion in funding to resource the province’s special economic zone project.

He says the development will eradicate poverty and advance a better life for residents while offering opportunities for small businesses.

But he hasn’t gone into details of the terms and conditions attached to the deal.

Mathabatha says at least 21,000 jobs will be created starting in March.

He says if South Africa and Limpopo, in particular, were to produce and refine minerals on home soil the economy would grow.

He says five Chinese companies have pledged $10 million in investment in Limpopo.

He says while they’ll be operating in the province, they have promised to support local businesses and mines in the process.

China has recently committed almost R200 billion in investments in South Africa, including loans to Eskom and Transnet.

The terms and conditions of those loans remain privileged information.

(Edited by Leeto M Khoza)