Investors have shown huge appetite for investing in Gauteng: Maile
More than R300 billion in investment pledges have been unveiled at the inaugural investment conference in Johannesburg on Thursday.
Gauteng MEC for Finanace and Economic Development, Lebogang Maile. Picture: @GautengTreasury/X
JOHANNESBURG - Gauteng MEC for Economic Development Lebogang Maile says local and foreign investors have shown a massive appetite for investing in the province as officials lead another investment drive.
More than R300 billion in investment pledges have been unveiled at the inaugural investment conference in Johannesburg on Thursday.
This is the province’s latest initiative in a wider drive to catalyse foreign and regional direct investment into Africa’s economic powerhouse.
Gauteng has set itself an investment target of R500 billion over the next five years.
The investment goal in this first iteration of the investment conference is more than half of this target.
Casting the first net into a pool of investors, Maile said the province has already surpassed its initial target.
“We have managed to secure pledges with an investment value of R312,5 billion. This is R12,5 billion more than our initial target. Our potential investors are geographically spread across five continents.”
This includes a total of 300 potential investors in South Africa, the United States (US) and the European Union (EU).
More than 60 projects have already been identified across 15 sectors.