President Cyril Ramaphosa will open the much anticipated fourth South Africa Investment Conference in Sandton, north of Johannesburg, on Thursday.
He initiated the annual event in 2018 with the aim of attracting R1,2 trillion worth of investment over five years.
So far the country has managed to attract R770 billion in commitments across a wide range of economic sectors.
President Ramaphosa’s administration has placed investments at the heart of its efforts to achieve its national goal of economic reconstruction and recovery.
Since launching the SA Investment Conference in 2018, Ramaphosa’s initiative has seen R290 billion flown into the economy representing 38% of the R770 billion in commitments pledged in the last three conferences.
After skipping last year due to the COVID-19 pandemic, Presidential Economic Advisor Trudy Makhaya says the event will adhere to strict COVID-19 regulations.
“This gathering will showcase will the country as an ideal investment destination for local and international investors,” says Makhaya.
South Africa Investment Conference I Preparations underway in Sandton:
DA: It will be difficult to get more pledge
The Democratic Alliance (DA) says President Ramaphosa has an uphill battle to overcome in convincing foreign potential investors into the country, at the Fourth South Africa Investment Conference.
The DA’s Dion George says it will be difficult to get more pledges this time around as investors will judge Pretoria for choosing sides in the Russia-Ukraine conflict.
EFF: Some funders are questionable
The Economic Freedom Fighters (EFF) says it has no faith in the annual SA Investment Conference called by President Ramaphosa.
EFF says after three conferences, there is no actual money received except for commitments and pledges that are still to be recorded.
The party’s Spokesperson, Leigh-Ann Mathys says some of the funders of the conferences are questionable.
4th SA Investment Conference kicks off on Thursday: Trudi Makhaya gives insight