Ramaphosa wants global business to join Africa's 'great leap forward' | IOL News

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President Cyril Ramaphosa told an audience of global investors and business leaders to join the African continent as it progressed.

He was delivering the keynote address at the 6th Financial Times Africa Summit in London.

Ramaphosa called for global business to be part of Africa’s "great leap forward", saying while Africa’s infrastructure needs amounted to some $130 billion to $170 billion a year, this would only be achieved with collaboration with the global community, significant private funding and partnerships for mutual benefit, said his spokesperson Khusela Diko.

South Africa was in the process of setting up an infrastructure fund to leverage investments from financial institutions, multilateral development banks, asset managers and commercial banks, Ramaphosa told the audience. He said that with the global move towards cleaner energy sources, Africa was perfectly situated for investment in wind, solar, bioenergy, hydro and natural gas.

She said the two discussed a collaboration to enhance South Africa’s investment drive, and the sharing of experiences to add to the capacity and capabilities of government.

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