More than 50 companies will be pledging new investments at the third SA Investment Conference, President Cyril Ramaphosa said on Wednesday in his opening address to the event, which emphasised the reforms SA is implementing to attract foreign and local funds, in spite of the devastating effect of the coronavirus pandemic.
The conference is intended to sell SA as a preferred destination for investment — despite the damage done by Covid-19 and in the face of SA’s long-standing structural impediments, such as strained electricity supply. Ramaphosa highlighted that in line with the recovery plan, the state is “pushing ahead with critical reforms.” These included the restructure of power utility Eskom and the overhaul of the energy sector, the planned allocation of high-demand spectrum by March 2021 along with other measures such as addressing corruption and the capability of government.
The first day — which was expected to have 1,000 virtual attendees listening in to sector discussions — experienced digital difficulties that left the livestream to the talks “unavailable”, causing the event to start late. Day two however, ploughed ahead with reduced in person attendance due to social distancing protocols. However an estimated 1700 delegates, locally and internationally, were expected to tune in virtually.
Investments come from people or organisations that believe in a product or service.
Wonder whether small business will have any benefit from this? Job creation?
Pledge for nothing in return?
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