Pretoria - Deputy President Cyril Ramaphosa will depart for Kigali, Rwanda, this morning, where he will lead a high-level government and business delegation to the annual World Economic Forum (WEF) Africa.
The forum, which starts today until Friday, is organised under the theme ‘Connecting Africa's Resources through Digital Transformation’.
It will be attended by regional and global leaders from business, government and civil society, who will focus on how the digital economy can act as a catalyst to drive radical structural transformation and strengthen public-private collaboration on key global and regional challenges.
They will then agree on strategic actions that can deliver shared prosperity across the continent.
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.
For its part, Team South Africa will use the forum to promote the country as being open to business and as a preferred destination for investment. The Presidency said Team SA will also reiterate South Africa's commitment to the full implementation of the National Development Plan (NDP) as a cornerstone of the economy.
“Deputy President Ramaphosa and Team South Africa will also utilise the opportunity of the various platforms provided by the forum to communicate a positive message that South Africa’s macro-economic environment remains resilient, with a dynamic and stable economy underpinned by solid economic fundamentals,” the Presidency said.
The Team South Africa delegation will include the Ministers of Finance Pravin Gordhan, Trade and Industry Rob Davies, Post and Telecommunications Siyabonga Cwele and Minister in the Presidency Jeff Radebe.
The business delegation will comprise representatives of, among others, Eskom, the Industrial Development Corporation, Old Mutual, ArcelorMittal and Business Unity South Africa.
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. – SAnews.gov.za
