Johannesburg – President Cyril Ramaphosa has called on all invited investors, entrepreneurs and business people to be part of the journey of recovery and rebuilding South Africa brick by brick, street by street and through the improvement of infrastructure.
Ramaphosa opened the fourth instalment of the South Africa Investment Conference (SAIC), held at the Sandton Convention Centre, north of Johannesburg on Thursday.
This is the first time in two years since the event took place physically, due to the Covid-19 pandemic.
“As investors, you need to know that your investments are secured and that the operating environment in South Africa is stable and that you are supported by policy certainty and regulatory safeguards that we are putting in place. You need to know that measures that we are taking to tackle crime and the damage to infrastructure are having an effect. Your investments are making a difference in local economies and the lives of our people,” said Ramaphosa.
He further said: “We, therefore, invite you to be South Africa’s growth story, we invite you to be part of a young dynamic resilient nation positioning itself at the front and the forefront of progress. We are forging ahead to transform our economy to unlock our country’s potential and to create a meaningful livelihood for all our people. Along the way yes, there will be challenges, hurdles, but we are determined to overcome and we are also determined to leave no one behind in South Africa”.
Ramaphosa said that it was almost four years since the country began its ambitious investment drive to attract R1.2 trillion over five years.
“Despite the impact of the pandemic, by the time of the third SAIC in 2020, we had raised or pledged a total of seven hundred and seventy-four billion in investment commitments, we are two thirds in reaching our target. Of the seven hundred and seventy-four billion committed, around three hundred and sixteen billion has so far been invested and the rest is in the way of being processed.”
He further maintained that investments that have been realised since the first conference, have created jobs, and have expanded local value chains, they have brought skills, technology and know-how into the economy.
“These investments are impacting the lives of a number of our people and I wish it was all of our people. The chance to earn a decent livelihood is fundamental to the dignity of every human being and it is these investments that are making the difference,” Ramaphosa said.
He thanked all companies present to make new investment commitments, saying that they are doing so because they are seeing opportunities in the country.
Ramaphosa also told investors that South African is a strong and vibrant democracy and an active society, durable institutions including an independent judiciary in the country and the rule of law.
“After a decade of state capture, you see a country that is confronting corruption and criminality. A country that is rebuilding its law enforcement agencies and strengthening the capacity of the state. You also see a well-regulated banking, financial and taxation system and a transparent budget process in operation in South Africa,” he said.
Political Bureau
