Ramaphosa: SA overshoots R1.2 trillion investment goal by more than R300 billion

President Cyril Ramaphosa said the country overshot its R1.2 trillion investment goal by more than R300-billion.

This means Team South Africa secured at least 25% more investment pledges than it set out in 2018 at the first Investment Conference.

Ramaphosa made the announcement during his closing remarks at the fifth investment drive on Thursday night.

Ramaphosa said the investment pledges made in the latest drive would focus on developing 21 district municipalities across the country.

“When we talk about investment in the cause of development, infrastructure is at the centre of that. Infrastructure development meets pressing community needs and often leaves behind a legacy for future generations.”

This includes almost R20 billion in investments by the South African National Roads Agency (Sanral) in the construction of roads, bridges and critical transport infrastructure.

Ramaphosa said there have also been a number of investments in social infrastructure projects including student accommodation.

This is expected to bring some relief amid student accommodation shortages which led to some disruptive student protests earlier in the year.

Ramaphosa believes other investments in the water and electricity sectors, job creation, and the mining industry will put South Africa ahead of other emerging markets.

-EWN

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