Ramaphosa: SA is an attractive investment destination
President Cyril Ramaphosa told a room full of investors on Wednesday that government is working hard to ensure South Africa is an attractive investment destination.
Ramaphosa opened the 2nd annual investment conference at the Sandton Convention Centre on Wednesday, which is being attended by local and international investors.
Some of the dignitaries in attendance included Finance Minister Tito Mboweni, former finance minister Mcebisi Jonas and Minister of Economic Development Ibrahim Patel.
“We are making South Africa an attractive destination for investments,” Ramaphosa said.
“As the minister of finance indicated in his medium-term budget policy statement last week, one of our central priorities is to return our country to a sustainable fiscus path.
“We are committed to taking the necessary measures to stabilize the debt-to-GDP ratio over the coming decade,” he added.
The country’s economic growth has been on the slump over the past ten years, with growth revised down from 1.5% to 0.5% during Mboweni’s mini budget.
The 20th edition of the World Bank Report, released last month, attributed the country’s slow economic growth to a lack of investments.