South Africa seek R1.2 trillion in new investments
9 Oct 2019 - by
After attracting more than R300 billion worth of investments last year, the South Africa government are gearing up for the second edition of the South Africa Investment Conference at the Sandton Convention Centre from 5 to 7 November.
The conference will be chaired by President Cyril Ramaphosa who wants to galvanize more investment over the next five years, setting a target of R1.2 trillion in new investments.
The inaugural year of the conference was a mammoth success as out of the R300 billion procured, just over R250 billion worth of projects entered the implementation phase, while Ramaphosa has confirmed the government is working on policy changes to ease the cost of doing business.
As a catalyst for investment, the government is focusing on infrastructure, setting aside R100 billion after the announcement of the Infrastructure fund in 2018.
The fund - managed by the Development Bank of Southern Africa – includes operational measures to improve construction of water infrastructure, roads and student accommodation through more productive methods.
The private sector has also pledged to invest R840 billion over the next five years, which gave birth to 43 projects over 19 sectors, creating 155 000 job opportunities in the process. – Bjorn Vorster