PRETORIA– The country’s long-term investment plan is expected to be laid out when hundreds of delegates, led by President Cyril Ramaphosa, converge for the inaugural South Africa Investment Conference on Friday.
President Ramaphosa will officially open and lead the conference which will have, amongst others, focused sector specific discussions around agriculture, agro-processing, mining and manufacturing, transport, ICT, tourism, BPO, film, energy, water and venture capital.
The two-day conference, under the theme ‘Accelerating Growth by Building Partnerships’, will see government officials, business and various other stakeholders deliberate on efforts to revive the troubled South African economy at the Sandton Convention Centre.
The conference is a culmination of various interventions announced by President Ramaphosa during his State of the Nation Address in February. Since then, President Ramaphosa set an ambitious target of attracting a staggering $100 billion (around R1.2 trillion) in investment over the next five years.
Former Finance Minister Trevor Manual, Former Deputy Finance Minister Mcebisi Jonas, businesswoman Phumzile Langeni as well as retired banker, Jacko Maree form part of the team of envoys that will travel the globe in search of investors with deep pockets. Presidential economic advisor Trudi Makhaya is also part of the team.
In September, President Ramaphosa announced a stimulus package aimed at rousing economic growth. The stimulus package includes a R400 billion infrastructure fund. In the same month, the President hosted a two-day Jobs Summit.
On Saturday, the conference is expected to outline the experience of investing in South Africa, including competitive benefits, market growth and export opportunities, including into the rest of Africa.
An array of recent and new investments will also be announced.
Later in the day, hour-long parallel sessions focusing on various key sectors will be held.
In a statement, the Presidency said the conference is a key milestone in the country’s bold ambition to raise at least $100 billion in new domestic and intentional investment over the next five years.
Through the conference, South Africa will market the compelling investment opportunities available in the country as part of government’s interventions geared at boosting economic growth and creating much-needed jobs.
The South Africa Investment Conference builds on the recent Presidential Job Summit, where labour, business, government and the community constituency adopted a ground breaking Framework Agreement to prevent further job losses, create jobs and support companies in distress, said Presidency spokesperson Khusela Diko.
Diko said investment deals that have been concluded in the course of the envoys’ engagements will be reported on and an investment pipeline to enable would-be investors to explore opportunities in the South African market unveiled.
?On Saturday, the President will lead a walk along Vilakazi Street in Soweto with delegates to showcase the vibrancy of the township economy.?
Source: NAM NEWS NETWORK