South Africa Investment Conference aims to accelerate growth

The inaugural South Africa Investment Conference, hosted in Sandton, hosted delegates from around the world to position South Africa as an ideal investment location.

The three-day conference was hosted under the theme, ‘Accelerating Growth by Building Partnerships’ to draw foreign investment from both private companies and governments.

During his State of the Nation speech earlier this year, President Cyril Ramaphosa outlined his plans for an investment conference to draw much-needed investment into the country.

Ramaphosa launched a bold plan in April this year to draw in $100 billion (approximately R1 470,71 billion) in new domestic investments over the next five years. The conference will aim to have a significant impact on that number.

“We are here to declare that we are determined to build a country that is driven by enterprise and innovation, to develop an economy that is diverse and resilient, as well as prosperous, and to create companies and enable companies to operate and achieve sustained returns, not only for their shareholders but also their workers as well as the communities that support them.”

Ramaphosa added that he has been humbled by the number of investment pledges they have received so far from both local and offshore investors and task teams have been appointed to convert those pledges into investments.

There are, however, still many investors reluctant to get involved in the country because of its economic uncertainty.

He said many potential investors have raised their concerns about investing in the country because of policy uncertainty and regulatory obstacles and he, along with a team, are working to overcome these challenges.

He also aimed to restore optimism in the country’s state-owned enterprises which have been racked by corruption and mismanagement. “We are in repair mode, we are rebuilding, we are renewing and we are repositioning, not only our country as a whole but also our state-owned enterprises.”

Ramaphosa concluded by inviting foreign and local investors to invest in a wide range of opportunities including technology, farms, call-centres, solar farms and the people of South Africa.

“We invite you to become valued partners in realising the vision, and sharing the benefits, as you must, in a new era of renewal, discovery, prosperity and progress and great promise, this is what South Africa offers.”

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