Pretoria - Deputy President Cyril Ramaphosa on Wednesday arrived in Kigali, Rwanda, where he is leading a high-level government and business delegation to the annual World Economic Forum (WEF) on Africa.
Deputy President Ramaphosa’s delegation includes Ministers Pravin Gordhan, Rob Davies, Siyabonga Cwele, Ebrahim Patel and Jeff Radebe. The business delegation includes Eskom, the Industrial Development Corporation, Old Mutual, ArcelorMittal and Business Unity South Africa.
Deputy President Ramaphosa and his team will use the opportunity to promote South Africa as being open to business and as a preferred destination for investments.
“The team will also utilise the opportunity of the various platforms provided by WEF to communicate a positive message that South Africa macro-economic environment remains resilient, with a dynamic and stable economy underpinned by solid economic fundamentals,” the Presidency said in a statement.
The delegation will also reiterate South Africa’s commitment to the full implementation of the National Development Plan (NDP) as a cornerstone of our economy.
Deputy President Ramaphosa will today participate in the following sessions:
- Implementing Africa’s Development Agenda (IGWEL meeting for Africa);
- Africa’s Fourth Industrial Revolution;
- The Infrastructure Investment and
- The Shaping New Energy Realities for Africa.
Deputy President Ramaphosa will also participate in a cultural meeting co-hosted by the government of the Republic of Rwanda and the World Economic Forum.
According to the World Economic Forum, Africa's positive economic outlook is under pressure, mainly due to adverse changes in the global economy and is expected to remain just below 5% in 2016.
“As many countries in the region improve their investment climate and undertake macroeconomic policy reforms, foreign direct investment flows are expected to continue to grow, although at a slower pace,” notes the WEF.
Pretoria’s participation at WEF Africa comes amidst a positive review of the country by rating agency Moody's.
Moody's has also appraised Eskom positively and this bodes well for the country's competitiveness and attractiveness as an investment destination.
Team SA will also use the forum to underline South Africa's commitment to attract investment not only to the country but to the SADC region and the entire African continent as part of advancing the continent's Agenda 2063.
The Forum, which is organised under the theme “Connecting Africa’s Resources through Digital Transformation”, is scheduled to conclude its business on Friday. – SAnews.gov.za
