President Ramaphosa Launches New Investment Drive

The Presidency

President Cyril Ramaphosa has launched a new investment drive for South Africa.

In a statement, the presidency confirmed that an Investment Conference will be held in August or September 2018.

The conference will be expected to report on “actual investment deals that have been concluded and to provide a platform for would-be investors to seek out opportunities in the South African market.”

Government wants to attract at least US$ 100 billion in new investments over the next five years.

According to president Ramaphosa, four Special Envoys on Investment have been appointed to engage, over the next few months, domestic and foreign investors on investment opportunities in the country.

The four Envoys are:

•    Trevor Manuel, former Minister of Finance;
•    Mcebisi Jonas, former Deputy Minister of Finance;
•    Phumzile Langeni, Executive Chairperson of Afropulse Group and a non-executive director of several leading South African companies; and
•    Jacko Maree, Chairman of Liberty Group and former CEO of Standard Bank.

They will be travelling to major financial centres in Asia, Middle East, Europe and the Americas to meet with potential investors.

A Presidential Council on Investment is also on the cards.

Sabinet Cape Town Office