SA Hosts Investment Conference

South Africa's President Cyril Ramaphosa. At least 1 000 delegates are expected to attend as the inaugural South Africa Investment Conference 2018 kicks off in earnest on Friday File photo IOL

JOHANNESBURG: South Africa is holding an investment conference in Sandton on Friday. At least 1 000 delegates, comprising of invited business leaders and civil society, will participate in the inaugural South Africa Investment Conference 2018.

President Cyril Ramaphosa will lead the South African government to the conference which is a key milestone in the country’s bold ambition to raise at least $100 billion (R1.4 trillion) in new domestic and intentional investment over the next five years.

These interventions by government are aimed at boosting economic growth and creating much-needed jobs. The unemployment rate in the country has increased to 27 percent.

The investment conference goes together with the economic stimulus package and recovery plan recently unveiled by the President to ignite economic activity, restore investor confidence, prevent further job losses and create jobs.

It’s also on back of the recent Presidential Job Summit, where labour, business, government and the community constituency adopted a framework agreement to prevent further job losses, create jobs and support companies in distress.

In leading the investment drive, Ramaphosa appointed four special envoys on investment, who have, over the past six months, engaged in over 150 dialogues that facilitated open communication on the investment climate and on the opportunities for investment that could be unlocked through partnership.

At the conference, actual investment deals that have been concluded in the course of the envoys’ engagements will be reported on.

An investment pipeline to enable would-be investors to explore opportunities in the South African market will also be announced.