Ramaphosa bolsters investment team ahead of conference

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Ahead of the South Africa Investment Conference to be held in Sandton from 5-7 November 2019, President Cyril Ramaphosa has taken steps to strengthen South Africa’s investment promotion drive.

The President has appointed additional Special Envoys on Investment and establishing a dedicated Investment and Infrastructure Office in the Presidency.

Four Special Envoys on Investment were appointed by the President in April 2018 to promote South Africa as an investment destination, facilitate resolution of administrative hurdles to investment and engage both domestic and foreign investors on the opportunities that exist in the country.

Since their appointment, the Envoys have been instrumental in mobilising investments announced at the inaugural Investment Conference in 2018, resolving challenges faced by different companies and addressing investor concerns on a number of key policy areas.

To strengthen the work of the Special Envoys, the President has appointed Jeff Radebe, Derek Hanekom and Elizabeth Thabethe as new Special Envoys on Investment targeting specific areas.

Radebe will drive investment promotion in the energy sector, focusing on oil and gas,  Hanekom and Thabethe will both be responsible for investment mobilization in the Tourism sector.

Through the Investment and Infrastructure Office, to be headed by former Gauteng MEC for Economic Development, Dr Kgosientso Ramokgopa, the Presidency will continue to lead the national investment drive and ensure optimal use of the resources of the Infrastructure Fund.

The office will be responsible for developing the country’s investment strategy, refining the institutional infrastructure for investment mobilisation, and establishing an investment intelligence capability.

The Investment and Infrastructure Office will also enable the Presidency to oversee coordination between all structures dealing with infrastructure development, including the Infrastructure Fund, which is being incubated at the Development Bank of Southern Africa.

This will allow the Presidency to monitor progress and address blockages in priority infrastructure projects and the private sector projects identified through the Investment Conference.

To complete government’s investment policy and architecture, the President will soon announce a Presidential Advisory Council on Investment.

This council will advise on government’s investment strategy and promote improved collaboration with the private sector, development partners, investment agencies and other social partners. The Council will comprise of persons with expertise in investment and development facilitation, drawn from South African, regional and international organisations and firms.

The President has expressed his gratitude to the new Special Envoys on Investment and Dr Ramokgopa for availing themselves to contribute to growing the South African economy and creating jobs for its people.