'Favourable' taxes, 'untapped' minerals punted at Limpopo Investment Conference

Mathabatha addressed the inaugural Limpopo Investment Conference, which got off on a positive note on Wednesday, with prospective investors pledging support for the province’s plans.

FILE: Limpopo Premier Stan Mathabatha. Picture: Kgothatso Mogale/EWN

JOHANNESBURG - Limpopo Premier Stan Mathabatha on Wednesday called on investors to take advantage of the province’s key economic sectors in mining, tourism and agriculture.

Mathabatha addressed the inaugural Limpopo Investment Conference, which got off on a positive note on Wednesday, with prospective investors pledging support for the province’s plans.

The event is a spinoff of the South African Investment Conference launched by President Cyril Ramaphosa two years ago to attract local and foreign investors.

Opening the conference, Ramaphosa described Limpopo as a gateway to a market of 300 million people in the SADC region, saying the province is open for business in mining, Agri processing, renewable energy among other industries.

He guaranteed potential investors that the trading environment in the country was investor friendly.

“As a country, we have very favourable tax regime to ensure decent returns and a very sophisticated financial sector to manage complex transactions.”

Meanwhile, Mathabatha said the province’s untapped potential holds great fortunes for businesses that will invest in Limpopo.

“We therefore require partnerships and collaborations with private investors to take full advantage of mostly untapped mineral deposits.”

Limpopo is among the poorest provinces in the country, despite being home to some of the richest mining deposits in the southern African region.

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