By Lehlohonolo Lehana.
President Cyril Ramaphosa in 2018, announced an ambitious plan of raising R1.2 trillion worth of investments in the economy over a five-year period at the South Africa Investment Conference (SAIC).
Since then, the country has gone through the Covid-19 pandemic, the Russia-Ukraine conflict, see-sawing fuel prices, civil unrest, and the worst energy crisis in South Africa in history as the state-owned power utility continues to impose rolling black-outs as it struggles to meet generation supply due to break downs and other operational challenges.
Ramaphosa will address the fifth South Africa Investment Conference (SAIC) on Thursday morning and will also take part in the panel discussion on “South Africa: Resolving the Energy Crisis.
The SAIC will be attended by delegates from varying industries in South Africa and across the world at the Sandton Convention Centre in Johannesburg.
Investors heeding the call have over the last four conferences declared R1.14 trillion in investment commitments.
“Of the 152 investment announcements made previously, 45 projects have already been completed, while a further 57 projects are currently under construction. These investments have resulted in new factories, call centres, solar power plants, undersea fibre optic cables, expansion of production lines and the adoption of new technologies, “said the Presidency.
It said the new investments also significantly contribute to South Africa’s national goals of socio-economic development to create sustainable jobs, reduce poverty and drive back inequality.
These investments have also contributed to a substantial increase in local production and encouraged efforts to buy local.
Companies significant investments will be pronounced in the opening session.
Delegates at the conference will participates in breakaway sessions ranging from discussions on Digital opportunities in SA, Agriculture, Infrastructure, Tourism, Digital and Creative Economy, Capital markets, The Just Energy Transition in South Africa, Mining and Manufacturing.
The 4th SAIC raised R367 billion in investment commitments, bringing the five-year investment target firmly into sight.