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Fourth SA Investment Conference SA an outstanding success: Ramaphosa - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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President Cyril Ramaphosa says the Fourth South Africa Investment Conference has been an outstanding success. Ramaphosa says they have now managed to raise 95% of the target they set four years ago.

The one-day meeting was attended by 1 000 delegates including cabinet ministers as well as local and foreign investors.

“The 80 investment pledges at today’s conference come to a total of R332 billion. With the pledges, we have received today – and with cancellations and additions we have heard about from investors in previous conferences – we have now taken the total level of investment pledged at the four Investment Conferences to R1.14 trillion. With just one year left to go, we have now reached 95% of the ambitious target we set four years ago.

“The bulk of our capital investment is back in South Africa, although we are heavily expanding and the return on capital is excellent, the scale of the market is big and we are investing in the amount of 43 billion and up a year in new business and businesses in South Africa. The bank itself is a big investment.

“In terms of our capital commitment we made in 2018, we shed about R85 billion is what we would spend in a five-year period going forward. We’ve actually achieved that after four years, but very important and again the story is about people and investing in infrastructure.

 

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