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Ramaphosa says new investment and infrastructure office to boost SA’s economy

The office will be headed by former Gauteng MEC for Economic Development, Kgosientso Ramokgopa.

President Ramaphosa says he has taken steps to strengthen the investment promotion drive ahead of the investment conference this week. Picture: PresidencyZA/Twitter

JOHANNESBURG – With Moody's indicating that it is fast losing patience with the pace of economic reforms in this country, President Cyril Ramaphosa said that his latest appointments would help boost investment and development.

He has announced additional special envoys on investment and established a dedicated investment and infrastructure office in the Presidency.

The office will be headed by former Gauteng MEC for Economic Development, Kgosientso Ramokgopa.

He will be joined by Jeff Radebe, Derek Hanekom and Elizabeth Thabethe, who are the new special envoys on investment targeting specific areas.

President Ramaphosa said that he had taken steps to strengthen the investment promotion drive ahead of the investment conference this week.

He said that the investment and infrastructure office would be responsible for developing the country's strategy, refining infrastructure for investment mobilisation and establishing an intelligence capability.

Added to this, a presidential advisory council on investment would be announced soon.

This council would advise on government’s strategy and promote improved collaboration with the private sector, investment agencies and others.

Moody's said at the weekend that it was concerned about jobs, growth and the slow pace of improving the overall economic picture, saying that urgent action was needed.

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