SA eyes investment commitments at the 5th SAIC

Tuesday, April 11, 2023

President Cyril Ramaphosa will address the South Africa Investment Conference (SAIC) on Thursday.

The SAIC will be attended by delegates from varying industries in South Africa and across the world at the Sandton Convention Centre in Johannesburg.

In its 5th year since inception, President Ramaphosa convened the South Africa Investment Conference with an objective of achieving R1.2 trillion in investments targets.

Investors heeding the call have over the last four conferences declared R1.14 trillion in investment commitments.

“Of the 152 investment announcements made previously, 45 projects have already been completed, while a further 57 projects are currently under construction. These investments have resulted in new factories, call centres, solar power plants, undersea fibre optic cables, expansion of production lines and the adoption of new technologies,” said the Presidency.

It said the new investments also significantly contribute to South Africa’s national goals of socio-economic development to create sustainable jobs, reduce poverty and drive back inequality.

These investments have also contributed to a substantial increase in local production and encouraged efforts to buy local.

President Ramaphosa is expected to address the opening of the South Africa Investment Conference on the Thursday morning and also take part in the panel discussion on “South Africa: Resolving the Energy Crisis”. 

Companies significant investments will be pronounced in the opening session.

Delegates at the conference will participates in breakaway sessions ranging from discussions on Digital opportunities in SA, Agriculture, Infrastructure, Tourism, Digital and Creative Economy, Capital markets, The Just Energy Transition in South Africa, Mining and Manufacturing.

Ministers and leading industry experts will partake in the breakaway sessions.

In the afternoon, President Ramaphosa will officiate at the closing and announcement ceremony of the 5th South Africa Investment Ceremony.

The 4th SAIC raised R367 billion in investment commitments, bringing the five-year investment target firmly into sight.

Later, the President will host a business and awards dinner in honour of investors and companies participating at the SAIC. –