South African President Cyril Ramaphosa on Wednesday urged investors “to join in the new momentum” by looking south to make their investments.
Addressing Brand South Africa’s interactive session held on the sidelines of the World Economic Forum Africa in Cape Town on Wednesday, the president said his was a fertile ground for new investments, and the country was also addressing constraints to economic growth to pave a smooth way for them.
The Cape Town session took place a day after Statistics South Africa announced that the country’s economy grew by 3.1% in the second quarter of 2019 – between April and June.
“Investing in South Africa is not just about securing decent returns. It is also about staking a claim in the future of a great nation that has the means and the drive to become one of the world’s most vibrant economies,” Ramaphosa said.
He said the South African economy is “fertile ground for companies and businesses who are prepared to invest in human capital to take advantage of the opportunities presented by the 4th Industrial Revolution.”
“I call on all investors present here today, particularly local investors, to be part of this new momentum,” he said.
The session was held under the theme: “Enhancing the Ease of Doing Business in South Africa.”