President Cyril Ramaphosa has assured local and foreign potential investors that their investments are secure and safe in South Africa.
He was speaking at the official opening of the Fourth SA Investment Conference currently under way at the Sandton Convention Centre, north of Johannesburg.
The one-day meeting is called to help attract the R1,2 trillion worth of investment by the end of 2023.
He says there are many reasons to invest in the country.
Ramaphosa says, “Many companies represented by many of you here will come forward to make new investment commitments. They will do so because they see opportunity in this country. They see beyond the difficulties and challenges. They see reform and progress.”
“They see an open society that has enabled us to weather many storms. They see a strong and vibrant democracy, a diverse media and an active civil society. They see durable institutions, an independent judiciary and the rule of law. After a decade of state capture, they see a country that is confronting corruption and criminality,” he adds.
Some delegates are optimistic that the conference will produce positive results.
One delegate says, “We are here at the SA Investment Conference hoping to hear the president and the minister outline possible investment opportunities as young entrepreneurs in South Africa, especially female-owned and hear what are the possible guides that the president and minister have for us.”
Another says, “We are expecting to hear a lot more about youth development because of the high unemployment rate.”
“The company that I work for, we have invested over a billion rand in infrastructure. This is just to show the government that we are confident in growing the economy of this country.”
We are forging ahead to transform our economy, to unlock our country’s potential and to create meaningful livelihoods for all our people.
— Cyril Ramaphosa ?? (@CyrilRamaphosa) March 24, 2022
Additional reporting by Amina Accram.