R120 billion pledge for Limpopo projects

Limpopo recently received more than R120 billion worth of pledges for investment into its economy during an investment conference hosted by the provincial government.

The province held its annual economic investment conference last week at The Ranch Hotel outside Polokwane, with nearly 1 000 investors from across the globe in attendance.

The majority of the province’s investment is geared towards solar energy, with over R66 billion invested in that sector for the Musina-Makhado Special Economic Zone (SEZ) and the Fetakgomo Tubatse SEZ.

Limpopo’s investment geared towards solar energy

Premier Dr Phophi Ramathuba said she had expected to come out of the conference with R100 billion worth of pledges.

“But they have exceeded my expectations and I am thrilled about this.

“We are grateful to all the investors who made Limpopo their home, and for investment pledges they have made.

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“We are a rural province and about 80% of our 6.6 million population are living in rural communities. The pledges will create much-needed jobs for our people, change their livelihood and strengthen our fight to the triple challenges of unemployment, poverty and inequality,” she said.

Ramathuba said implementation of the projects, funded by the pledges, would resume this month and continue through to October 2025.

“The commitment from the business sector has shown us strong support for the province’s seventh administration and its focus on sustainable development and economic resilience.

‘Strong support for province’

“We aim to increase our contribution to the gross domestic product by 2%, reduce the official unemployment rate to 14% and decrease the percentage of people living in poverty to 20%.

“We also aim to make Limpopo a working province where we cut ribbons now and then.

“But we can only do this if more and more investors come and invest in Limpopo,” she said.

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Economic development, environment and tourism MEC Tshitereke Matibe said the combined investment pledges for the conferences since its inception three years ago was R162 billion, with R62 billion already being implemented in projects.