The diversity and extent of the investment commitments of US$22 billion raised at the just-ended 4th South Africa Investment Conference is encouraging, President Cyril Ramaphosa said on Monday.
Writing in his weekly message to the nation, Ramaphosa said he was pleased with the investments committed at the gathering which brought the total value of commitments to US$76 billion to date.
“These investments, like those made at past conferences, are good for employment, good for transformation and good for the country,” Ramaphosa said.
What remained now was to raise another US$4 billion to reach the target of US$80 billion in the next five years, he added.
He said that during the investment conference the country also had funding pledges from the United Arab Emirates, and on Monday in Dubai he made a case for investors in the Gulf States and beyond to come and invest in South Africa.
“Several investors in these foreign markets often express surprise at just how diverse the South African economy is, and the range of opportunities that exist here,” he added.
He said the investment conference was significant for several reasons — it saw an impressive amount of investment commitments in the midst of a pandemic that has dampened the global investment climate for more than two years.
“Such is the appetite of global investors for our economy that this year saw pledges from traditional trading partners in the European Union, United States, China and Britain, but also from Canada, Mauritius, Norway, Turkey and Pakistan,” he said.
NM/jn/APA