Ford to invest nearly R16bn in SA economy
President Cyril Ramaphosa says the R15.8 billion
investment announced by US motor giant Ford Motor Company
in Tshwane on Tuesday is a sign of confidence
in the South African economy.
The investment by Ford, which is the largest in the history of the local automotive sector, is expected to create some 10 000 new jobs.
The president was speaking at the Tshwane Automotive Special Economic Zone at Ford Silverton on Tuesday morning.
Ramaphosa said the investment shows the company is prepared to expand and grow its business interests in the country.
"It gives me great pleasure to again visit the Tshwane Automotive SEZ and Ford Motor Company of South Africa."
— Presidency | South Africa 🇿🇦 (@PresidencyZA) February 2, 2021
Remarks by President @CyrilRamaphosa on the visit to the Tshwane Automotive Special Economic Zone. https://t.co/JCK5ZTPpIm#TshwaneAutoSEZ #InvestSA pic.twitter.com/JHJojlZtbJ
"But it is also a great demonstration of confidence in our country. If they didn't have confidence in our ability to be able to ensure that this investment would work for them, they would have taken it somewhere else.”
Ramaphosa told officials from the motor company that he is pleased that small businesses and surrounding communities will also benefit from the investment.
President @CyrilRamaphosa arrives at the #TshwaneAutoSEZ Site Office, received by Premier @David_Makhura, @the_dti Minister Ebrahim Patel, @CityTshwane Mayor Randall Williams and Mr Andrea Cavallaro (Vice President: Ford Manufacturing Operations Market Group) #InvestSA 🇿🇦 pic.twitter.com/epxlrBcmkb
— Presidency | South Africa 🇿🇦 (@PresidencyZA) February 2, 2021
