President Cyril Ramaphosa has announced a multi-billion rand projects book for investments that requires funding. Speaking during the closing ceremony of the inaugural South Africa Investment Summit, Ramaphosa told delegates that the project book comprises of both government and private sector projects.
South Africa has raised R290 billion in actual investment and R400 billion in pledges at the Investment Conference in Sandton, north of Johannesburg. Ramaphosa says the portfolio of projects will be updated as new projects are enlisted and older ones are funded.
“We have also published a portfolio of projects most proposed by the private sector that require finance. Some of these projects have been proposed by our various government structures, they have been truly methodical in crafting the projects that they believe will add to economic growth. The project book is alive, dynamic portfolio that will be updated as new projects emerge. “
Meanwhile, investment envoy Trevor Manuel says the commitment made by local companies to invest in the economy will send a strong message to international investors. Manuel says the campaigns to attract investors will now be taken beyond major financial hubs of the world. He says as one of the four Presidential investment envoys, they will visit the US next week.
“We need to get out there and be talking to people, part of what we are doing is we are going the US next week , we will go again. But NY is a financial capital, to get the capital out of the US you need to move to the mid-west to cities like Chicago, Detroit, – go to the west coast and it can’t just be a visit to the US.”
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