South Africa's Investment Drive on Track
PN Abraham-Ntantiso
The ANC welcomes all the efforts by our government to attract new investment. We are pleased to hear that more than R363-billion has been pledged at the second SA Investment Conference on Wednesday, 6th November 2019 at Sandton Convention Centre in Gauteng by about a dozen companies and business partnership forums. This is a 17 percent higher than the R300 billion pledged at the first 2018 Conference. The gathering is part of President Cyril Ramaphosa's investment drive to raise R1.2 trillion in 5 years to improve the country's low economic growth and deal with the high unemployment rate.
The new commitments follow the assurances given by President Ramaphosa, that the proceeds of the pledges made at the inaugural investment conference last year, were already being realised. Of the R300-billion in investment pledged in 2018, about R238-billion has been secured during the past 12 months. Since 2018, eight projects have been completed and about 17 are in the implementation stage. The remaining projects are still in the planning phase. The ANC would like those who gave us their mandate and trust, to be assured that South Africa will rise and prosper in the years ahead, and overcome all the current challenges and difficulties.
