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‘Investment conference about repositioning the way SA does business’

The investment conference will take place between 25 and 27 October, and will see over 800 delegates from around the world descend on Johannesburg.

FILE: Economic Development Minister Ebrahim Patel. Picture: GCIS.

CAPE TOWN - South Africa is ready for next week’s investment conference which will see top global CEOs and companies descend on Johannesburg.

Economic Development Minister Ebrahim Patel on Thursday gave an update on preparations and what can be expected from the three-day event.

The conference will take place between 25 and 27 October at the Sandton International Convention Centre and will see over 800 to 1,000 delegates from around the world.

One of the first things President Cyril Ramaphosa did when he took office was schedule an investment conference.

The gathering will also form part of Ramaphosa’s foreign investment drive to attract $100 billion in foreign investment.

The conference also comes on the heels of the Jobs Summit.

Patel says the conference is about repositioning the way South Africa does business.

“The conference is aimed at boosting investment in South Africa. That means giving investors a more coherent narrative about where we want the economy to go, where the opportunities are and how we’re going to increase the rate of growth.”

At the same time, Patel says Ramaphosa will have to allay the concerns of the international investor community about South Africa’s land policy.

“The president will no doubt want to deal with this matter, to share with investors our storyline and our timeframe, what we expect to be the processes that will happen. We are a democracy."

Some of the world’s most influential business people, like investor and philanthropist Jack Ma, will attend the three-day event.

The event will also include one of President Ramaphosa’s trademark morning walks in Soweto’s Vilakazi Street, where he will be accompanied by business leaders.

He is expected to make announcements on some major investments.

(Edited by Zamangwane Shange)