There’s renewed confidence in SA’s economy: Ramaphosa

President Cyril Ramaphosa is optimistic that he’s on course towards meeting the $100-billion investment target that he announced earlier this year.

He wrapped up his three-nation tour in Abu Dhabi last week. Ramaphosa says there’s renewed confidence in the country’s economy.

He secured a total of 20-billion-dollars investment from Saudi Arabia and the United Arab Emirates, ahead of the October investment conference.

Ramaphosa says he took the opportunity to raise the issue of escalating fuel prices with the producers.

“They want to continue with their production and I’m sure they will up it. They are seeing great prospects for their own economy in relation to where the price of oil is and also they want to get more and more oil into the market and we will see what that does in the end but we did discuss it. Their economy is driven by oil and we must understand that,” says Ramaphosa.

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