Sa investment conference
R332 billion pledged at 4th SA Investment Conference
The investment conference is a flagship programme of the Ramaphosa Presidency and serves as an anchor to the economic reconstruction and recovery plan.
The third South African Investment Conference has drawn in R109.6 billion in investment commitments from local and international communities.
President Ramaphosa was opening the third gathering of this nature - where companies make investment pledges with the hopes of breaking ground on projects in years to come.
On the conference’s agenda are various subjects, including the energy plan, small business growth and infrastructure investment.
The government has set a target of R1.2 trillion in investment for the next five years, with pledges amounting to R664 billion so far.
Minister in the Presidency Jackson Mthembu said this year's investment conference was aimed at raising funds towards consolidation and construction post the COVID-19 economic impact.
While acknowledging that while South Africa still had some way to go to reach our target of R1.2 trillion over the next three years, President Cyril Ramaphosa says the investment gains made so far should be celebrated.
Economist Gina Schoeman says one of the positive developments about the investment conference is that government also used the platform to announce policy interventions.
Over R3 billion in investment commitments was raised over the course of the three-day investment conference this week.
President Cyril Ramaphosa said that small enterprises presented the greatest potential to the growth of the economy but were often overlooked when it came to both government planning and investment.
Rating agencies may be in disagreement but President Ramaphosa was convinced that the investment pledges made at the second investment conference meant business had confidence that the economy was poised for growth in the future.
The gathering is part of President Cyril Ramaphosa's investment drive to raise R1.2 trillion to improve the country's low economic growth and deal with the 29.1% unemployment rate.
President Cyril Ramaphosa said that South Africa's capacity was in the form of its people, natural & mineral resources, world-class infrastructure and a well-regulated financial and banking sector among other things.
President Cyril Ramaphosa described as 'gratifying' to witness the commitments of the inaugural conference materialising in the form of new factories, production lines, services, products and jobs.