By Lehlohonolo Lehana.
South Africa has entered a new phase of growth, securing the highest-ever investment commitments at the 2026 South Africa Investment Conference (SAIC).
Delivering his closing remarks to delegates, investors, and business leaders, President Cyril Ramaphosa said the scale and scope of pledges made at this year’s conference provide compelling evidence that confidence in the country’s economy is strengthening.
Ramaphosa announced that the government was working towards a new private investment goal, seeking to mobilise R2 trillion by 2028.
He noted that the country began its investment drive in 2018, aiming to attract R1.2 trillion in new projects.
In the years that followed, the government secured pledges in mining, healthcare, automotive, food and beverage, and other sectors.
At the end of the first five-year investment mobilisation drive in 2024, investment exceeded the target by 26%, securing pledges valued at R1.57 trillion.
The president said the country is now prepared to showcase its renewed and more favourable position as an investment destination by extending the goal even further.
A total of R889.8-billion was pledged during the day-long conference on 31 March 2026.
Among the headline commitments, Sasol has pledged R60-billion for plant upgrades and new technologies in Mpumalanga and the Free State. At the same time, Valterra Platinum will expand mining operations in Limpopo to supply critical minerals for future-facing industries.
Other investments were announced at the conference includes a R9 billion commitment from open-access fibre infrastructure group, Maziv.
This significant capital commitment, spanning the next 5 years, includes a dedicated pledge to create 10,000 direct and indirect jobs over 7 years.
The pledge follows the approval by the Competition Commission and ICASA of Vodacom’s acquisition of a 30% stake in Maziv.
Other major pledges include a R10.4 billion investment by Toyota in KwaZulu-Natal to support the automotive sector’s energy transition.
Ramaphosa emphasised that these commitments align with the government’s broader push to scale up infrastructure spending, describing it as the “largest infrastructure investment intervention” in South Africa’s history.
Despite the positive momentum, the President acknowledged that significant work remains. Fixed investment currently stands at around 15% of GDP, and the country must double this level over time to achieve sustained economic growth.