The SA Daily
08 November 2019
SA Inc. is right on track
Shireen Darmalingam
- President Ramaphosa’s second annual investment summit this week had the aim of $100bn (R1.2 trillion) of investment over the next five years. At his inaugural conference last year, local and international investors pledged $16bn (R238bn). He said this week that "the new investments over five years are with the view of addressing low economic growth and reducing unemployment".
- At the summit this week, over R363bn in new investments has already been pledged by the private and public sector, and the SA sectors to benefit over the coming years will be mining, forestry, manufacturing, telecommunications, transport, energy, agro-processing, consumer goods, pharmaceuticals, infrastructure, financial services and ICT sectors. This year’s theme was “Accelerating Growth by Building Partnerships” and investments aim to boost economic activity, restore investor confidence, stem job losses, and create jobs. Government has already made “tremendous progress” on reforms, with the president adding that “government is fully committed to the reform trajectory”.
- Indeed, this investment drive underscores government’s commitment to growing the SA economy. Firm steps are also in place to improve the ease of doing business and to overcome the administrative and bureaucratic challenges hindering investment.
- Fiscal intervention to stabilise Eskom’s debt will also prove positive for investment in the longer term.
Read PDF