Ramaphosa Faces Tough Task To Woo Investors At Investment Conference

President Cyril Ramaphosa delivers the keynote address at the Investment Conference 2018 held at the Sandton Convention Centre in Johannesburg .
President Cyril Ramaphosa delivers the keynote address at the Investment Conference 2018 held at the Sandton Convention Centre in Johannesburg under the theme, “Accelerating Growth by Building Partnerships”. Picture: GCIS

President Cyril Ramaphosa’s election, the change in visa regulations and strides towards reforming the Mining Charter are being seen as just some of the factors that may work in South Africa’s favour as the country readies to woo more investors.

Potential investors from around the country and abroad are expected to gather in Sandton from Tuesday to Thursday.

Economists are assessing the country’s prospects of success, looking at how many promises from last year have been fulfilled.

Ramaphosa set the bar high with the inaugural South Africa Investment Conference last year.

He also made promises for a more investor-friendly environment.

Development economist Ndumiso Radebe looks at which of the promises have been achieved.

“Visa regulations for toddlers that are travelling with their parents that have been abolished as was promised at the last investment conference, we have also seen the recent WEF competitiveness index to South Africa’s ranking improving from 67 to 60.”

Radebe said it will be a difficult task to convince investors, especially those with fixed investments who need to buy machinery and employ people.

But some, including Mara Phones, had already made good on their commitments.

“Ford making a significant additional investment in the SA economy which has an implication of over 2,000 additional jobs being created.”

He said Ramaphosa faces an uphill battle to beat last year’s record.

But if he offered certainty on addressing the unbundling and financing of Eskom, he will win half the battle.

EWN