The fourth South Africa Investment Conference scheduled to take place this month has been postponed to March next year.
President Cyril Ramaphosa announced this in his weekly letter to the nation on Monday.
The delay is due to several other events under way at this time such as the COP26 climate conference, the Intra-Africa Trade conference kicking off in Ethekwini next week and the recently completed local government elections.
Despite this, Ramaphosa says that the country’s ambitious investment drive continues, with companies making good on their earlier commitments and looking for other investment opportunities in the country.
The South Africa Investment Conferences held annually since 2018 have seen R290 billion flow into the economy.
This represents 38% of R770 billion in commitments pledged in the last three years.
These investments have been in the energy, infrastructure, telecommunications and pharmaceutical sectors.
Ramaphosa says a commitment of R131 billion fund by the US and several EU countries towards renewable energy will help overcome the debilitating load shedding the country is currently experiencing.
From The Desk of The President – Monday, 8 November 2021 – https://t.co/Rr0uiW7DRZ Normally, this is the time of year when we bring together investors from across the country and around the world for the annual South Africa Investment Conference. pic.twitter.com/m74li8FhzC
— Presidency | South Africa ?? (@PresidencyZA) November 8, 2021
