By Lehlohonolo Lehana.
President Cyril Ramaphosa will officially open the much-anticipated fourth South African Investment Conference (SAIC) at the Sandton Convention Centre, in Johannesburg, on Thursday.
In 2018, the President committed to raising over R1.2 trillion worth of investments in five years to boost economic growth and stimulate employment.
Since that year, the President has hosted three annual Investment Conferences at which he set out the policy context and reforms and the private sector provided feedback and made pledges to invest.
The SAIC has drawn delegates from South Africa and the rest of the world with the objective of showcasing the investment opportunities available in the country. However, in 2021 the COVID-19 pandemic led to the postponement of the conference.
According to a statement on the SA Investment site, R774 billion has been pledged to date – two-thirds of the goal, with the investments spread across mining, manufacturing, agriculture, the digital economy and more.
“This leaves another R426 billion to be raised in the next two years. Of the 152 pledges made during the first three investment conferences, 45 have been completed or will soon be completed and 57 are under construction. Some 40% of the committed investment pledges had been expended by the end of February,” the statement read.
The programme at the all-day conference includes a keynote appearance by Dr Patrick Soon-Shiong, a South African now residing in the United States, who established a COVID-19 vaccine plant in Cape Town.
Dr Soon-Shiong is a transplant surgeon, billionaire businessman, bio-scientist and media-owner, known for his development of Abraxane which is known for its efficacy against lung, breast and pancreatic cancer.
The morning session will kick off with an investment announcement by the African Development Bank, an introduction by Department of Trade, Industry and Competition Minister, Ebrahim Patel, an opening address by Ramaphosa followed by a panel discussion on the South African investment case.
Late in the afternoon, the focus will switch to growing opportunities in Africa, via investments made locally.
“The rest of the day will be given over to a wide range of interests, including improving the business environment, focus on infrastructure finance and digital opportunities, tourism, impact investing, the small business sector, energy, mining, manufacturing plus a discussion on social compacts to support investments at district level.”
Of key interest will be South Africa’s creation of an attractive business platform by focusing on economic growth, the rapid introduction of economic reforms, including improving the regulatory environment.
The conference will also host Business Awards with the President wrapping up the conference with closing remarks.
Meanwhile the National Joint Operational and Intelligence Structure (NatJOINTS) has expressed satisfaction with safety and security measures that have been put in place for the 4th South African Investment Conference.
NatJOINTS spokesperson, Lt Col Robert Netshiunda, said the structure had worked closely with the Department of Trade, Industry and Competition to ensure that delegates and all investors forming part of the conference are and feel safe during the event.
NatJOINTS comprises government departments, including various disciplines within the South African Police Service, the National Defence Force, Intelligence Coordinating Committee, Johannesburg Metro Police, and Gauteng Traffic Police among other law enforcement agencies
Netshiunda said residents of Sandton and surrounding suburbs are advised that there will be limited access in areas around the Sandton Convention Centre between Wednesday evening and Thursday night.
“Motorists are advised to use alternative routes as there would be temporary road closures affecting the following streets: West Street, Maude Street, 5th Street and Alice Lane.
“Only people with valid accreditation will be allowed to enter the restricted areas in and around the conference venue. Law enforcement agencies will be out to ensure that there is calm and stability for the duration of the event. Two Speaker’s corners have been reserved for those who would wish to air their grievances,” he said.
Netshiunda advised potential protesters to make use of the two speaker’s corners at the Library Parking situated at corner West and Maude Streets, as well the one at corner West and Fredman Drive.
“All protest actions must be within the prescripts of the law and no lawlessness will be tolerated,” he said.