By Thebe Mabanga
President Cyril Ramaphosa closed the 6th South African Investment Conference on Tuesday, saying R889.8 billion had been secured, and raising the five-year investment target from R2 trillion to R3 trillion.
“This conference has demonstrated that our economy is entering a new phase of growth,” Ramaphosa said.
“Having witnessed and heard the announcement of commitments of investment that will be made in our country, I can confidently say there is a strong case for investment in South Africa today.”
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Ramaphosa described the structural reform programme being driven through Operation Vulindlela as having positioned the country more strongly for investment.
“Through the structural reform agenda, we have brought about a new era of hope and promise for South Africa, and positioned our economy as one of the leading destinations for investment in emerging markets.”
He grounded the success of the conference on the five that have gone before it since 2019.
“When the sixth administration took office in 2019, we were determined to build a government that was open to collaboration and to finding shared solutions to common problems,” the president said.
“We extended the hand of partnership to the private sector. This was met by a willingness to engage, to take us at our word, and to support the reform agenda.”
Ramaphosa also used the opportunity to respond to the view that he is indecisive and avoids key decisions.
Speaking off the cuff and garnering suppressed laughter for his statements, he said that the decision to create the portfolio of Minister of Electricity and Energy and have it headed by Dr Kgosientso Ramokgopa was made without consulting the ANC.