Ramaphosa set to open SA Investment conference: Goal of R1.2 trillion almost achieved

President Cyril Ramaphosa is expected to officially open the fourth South African Investment Conference (SAIC) at the Sandton Convention Centre, in Johannesburg, on Thursday.

Since launch in 2018, the Saic has drawn delegates from South Africa and across the globe with the objective of showcasing the investment opportunities available in the country.

R1.2 trillion worth of investments

Ramaphosa committed to raising over R1.2 trillion worth of investments in five years to boost economic growth and stimulate employment.

According to a statement on the SA Investment site, to date R774 billion has been pledged, two-thirds of the goal which have been spread across mining, manufacturing, agriculture, the digital economy and more.

“This leaves another R426 billion to be raised in the next two years. Of the 152 pledges made during the first three investment conferences, 45 have been completed or will soon be completed and 57 are under construction. Some 40% of the committed investment pledges had been expended by the end of February.”

The Thursday morning session of the Saic will kick off with an investment announcement by the African Development Bank, an introduction by Department of Trade, Industry and Competition Minister, Ebrahim Patel, the opening address by Ramaphosa followed by a panel discussion on the South African investment case.

Meanwhile, security has been beefed up ahead of the investment conference.

The National Joint Operational and Intelligence Structure (NatJOINTS) said it had worked closely with the Department of Trade, Industry and Competition to ensure that delegates and all investors forming part of the conference are and feel safe during the event.

Spokesperson Lt Col Robert Netshiunda said residents of Sandton and surrounding suburbs are advised that there will be limited access in areas around the Sandton Convention Centre between Wednesday evening and Thursday night.

“Motorists are advised to use alternative routes as there would be temporary road closures affecting the following streets: West Street, Maude Street, 5th Street and Alice Lane. Only people with valid accreditation will be allowed to enter the restricted areas in and around the conference venue.”

The conference will also host the Business Awards with Ramaphosa delivering the closing closing remarks.

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