Several businesses have committed to create thousands of jobs, both direct and indirect, as part of their investment commitment in the country.
South Africa Investment Summit ended in Sandton, north of Johannesburg on Friday.
Various companies have promised R290 billion in actual investment, with pledges of another R400 billion in the future.
Among the investors, the Founder and CEO of the Alibaba Group, Jack Ma. He is in conversation with SABC News’ Nzinga Qunta.
Ma says it’s important for government to be “e-government”. “We have to make sure that the sure government is digitalised. If government is digitised, it serves people better,” he added.
New narrative on investment in South Africa
President Cyril Ramaphosa delivered the closing remarks at the Inaugural South Africa Investment Conference on Friday night.
He said “Today marks an important milestone along our journey of establishing South Africa as an investment destination of choice. We will derive important lessons from this conference as we prepare to make it a regular feature in our annual calendar.”
Companies that have vowed to create jobs through their investments include: Nestle, Vodacom, Proctor and Gamble and five local car manufacturers.
President appointed former finance minister Trevor Manuel, former deputy finance minister Mcebisi Jonas, and business people Jaco Maree and Phumzile Langeni as investment envoys.
Manuel says the campaign to attract investors will now be taken to major financial hubs of the world.
“We need to get out there and be talking to people – part of what we are doing is we’re going the US next week. We will go again. But New York 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 the US.”
— South African Government (@GovernmentZA) October 26, 2018