Investment drive will boost SA’s economy: Ramaphosa

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President Cyril Ramaphosa says he’s optimistic that the ambitious plan that he unveiled on Monday will improve the country’s sluggish economy.

The plan involves a global initiative to attract $100-billion in investment over the next five years.

Total fixed investment in the economy stood at 24% of GDP in 2008, but it declined to around 19 last year.

The National Development Plan says South Africa needs to increase investment to at least 30% of its GDP by 2030. Ramaphosa has appointed a team of special envoys to help to realise this.

“Mr Trevor Manuel, former Minister of Finance, Mr Mcebisi Jonas, former Deputy Minister of Finance, Ms Phumzile Langeni, Executive Chairperson of Afropulse Group and a non-executive director of several leading South African companies, Mr Jacko Maree, Chairman of Liberty Group and former CEO of Standard Bank. I am also pleased to announce the appointment of Ms Trudi Makhaya as my economic adviser. Among her immediate responsibilities will be the coordination of the work of these Special Envoys.”