South Africa’s Second Investment Conference has so far raised US$24 billion in new investments for the country, APA learnt on Thursday.
Addressing the ongoing conference in Johannesburg on Thursday, Ramaphosa said the funds are 17 percent higher than the US$20 billion in investments made at the first conference in 2018 where he announced his country’s intention to raise some US$100 billion over five years.
The president was over the moon about this development, telling South Africans that the newly-announced investments are set to create 412,000 direct jobs over the next five years.
South Africa’s unemployment rate of a staggering 29.1 percent has become a hot political potato, according to Statistics South Africa.
“We are immensely encouraged as South Africans by the investment commitments made.
“We believe that these investments will boost the economic growth of the country and will create many new jobs,” an excited Ramaphosa told the conference.
NM/jn/APA