President Cyril Ramaphosa is pushing back against the narrative that South Africa is in trouble with investors, saying that the country has become an increasingly attractive investment destination that has drawn R1.5 trillion worth of commitments from big businesses.
He also pointed to South Africa’s manufacturing sector becoming the largest destination of foreign investment in the country – with investment also flowing into mining and quarrying and financial services. Ramaphosa pointed to annual investment conferences held in South Africa over the current term, which he said attracted R1.5 trillion in investment commitments across a broad range of economic sectors.
There are also more avenues open to the government to boost investment: such as the auction of broadband spectrum and progress in digital migration offering opportunities in technology, and the cutting of red tape in government to get businesses set up faster.