Ramaphosa continues charm offensive to investors in CT

President Ramaphosa was addressing thousands of delegates at the Invest in Africa Mining Indaba at the Cape Town International Convention Centre.

President Cyril Ramaphosa. Picture: GCIS.

CAPE TOWN – President Cyril Ramaphosa has continued his charm offensive by reassuring investors in Cape Town that South Africa is the place to do business.

Ramaphosa was addressing thousands of delegates at the Invest in Africa Mining Indaba at the Cape Town International Convention Centre.

He urged them to invest not just in South Africa, but also in the entire continent.

President Ramaphosa says South Africa is still an attractive investment destination despite some of its major structural and economic challenges.

He says the government currently has its hands full dealing with challenges faced by power utility Eskom, which is seen as a major obstacle for investment.

“In the coming few days we’ll be announcing a package of measures to stabilise as well as to improve Eskom’s financial, operational and structural position.”

Ramaphosa says investors have responded positively to his investment drive with companies pledging $20 billion in just a few months.

“They, these companies that attended our augural conference and many they were, from many countries around the world, made investment commitments that amount to $20 billion.”

He has also assured international mining investors that the sector is not a “sunset” industry and still has a bright future with some of the world’s largest mineral deposits.