Ramaphosa: Over 50 companies commit to invest in SA
At least 50 companies are set to commit to investing in South Africa at this year's investor conference.
This according to President Cyril Ramaphosa, who delivered the opening address at the third instalment of the conference.
"One would have thought with coronavirus, investors would start fleeing and rushing to other markets. We have found the opposite to be true, these commitments are a form of a compact."
He says over the past two years, local and international investment commitments amounting to R664 billion have been made.
"Since April 2018, when we announced our ambitious target, to attract 1.2 trillion rand of investment over 5 years. We want to consolidate commitments that have been made today, to ensure they are realised.
Ramaphosa says billions of rands have been invested in the mining and mineral sector.
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The investment drive was announced in 2018 with an aim to raise over 1.2 trillion rand in five years.
South Africa has raised R664 billion from two conferences.
Speaking at the third annual investment conference yesterday, Ramaphosa said the restructuring of power utility Eskom, will lead to major developments.
"Requests for proposals will be issued in December, to enable the opening of various bid windows. Including bid window five, our renewable energy programme.
We have recently taken steps to enable the greater self-generation and allow local municipalities to generate their own power," he adds.
