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President Cyril Ramaphosa says SA is on track to meet its investment target

President Ramaphosa

President Cyril Ramaphosa says South Africa is on track to meet its target of more R1.1-trillion in investments in five years.

A further R109-billon has been pledged, bringing the total now to R773-billion in new investment. Ramaphosa delivered his closing remarks at the third SA Investment Conference on Wednesday.

He made some important announcements about how South Africa aims to attract foreign investment.

President Ramaphosa

The president said at the start of the first summit, in 2018, the aim was to attract over R1.2 trillion in investments. He said between 2018 and 2019, over R600 billion in investments came through.

Ramaphosa said this year’s conference should aim to solidify those commitments and ensure they are realised. He said those pledges should translate into factories, infrastructure projects, news and new forms of economic activity.

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Source: eNCA