Ramaphosa: 50 companies ready to sign cheque books for SA investment

Ramaphosa made the opening address at the third South Africa Investment Conference held at the Sandton Convention Centre on Wednesday. 

At least 50 companies are expected to commit towards investing in the country’s economy, despite the onslaught of the global pandemic. 

“Yet, as we have found in preparation for this Conference, there is still a strong appetite for new investment in our economy. I am therefore pleased to announce that there are over 50 companies that will be making commitments at this year’s investment conference,” Ramaphosa told delegates.  

“These commitments are much more than statements of intent. These commitments are a form of compact between companies, their shareholders and their stakeholders.  

More than 1700 delegates are taking part in the 2-day virtual conference. 

Since 2018, South African government has raked in at least R664 billion in investments. 

Ramaphosa said this year’s conference is focused on implementation.   

“Nineteen investment projects from the last two years have already been completed or launched. A further 44 projects – representing 57 per cent of the total investment commitment – are under construction, with another 12 projects in the early stages of implementation.  

“Unfortunately, 21 projects – representing around 10 per cent total commitments – have been delayed or are on hold as a result of the coronavirus pandemic,” he added. 

Investments are expected to be channeled into infrastructure development and job creation. 

“As we have seen, these commitments do actually translate into new and improved facilities, expanding production, creating employment and opening up new markets.” 

The conference, which was launched by the president in 2018, aims to raise R1.2 trillion in additional investments over the next five years.

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