Investors pledge over $22B to South Africa at conference: President

Africa’s most advanced economy gets closer to ambitious investment target of around $100 billion set in 2018.

JOHANNESBURG

South Africa received 80 new investment pledges Thursday totaling 332 billion rand ($22.83 billion) during the country’s fourth investment conference, said President Cyril Ramaphosa.

“Four years ago, we set ourselves an ambitious target of raising 1.2 trillion rand (around $100 billion at the exchange rate of the time) over a five-year period,” Ramaphosa said.

He said with the pledges received Thursday, the total level of investment pledged at the four Investment conferences since 2018 has now reached 1.14 trillion rand ($82.6 billion).

South Africa’s investment conferences are aimed at marketing the country as a great investment destination by offering investors a glimpse of what it has to offer and discussing challenges that investors face and how these can best be resolved.

By Hassan Isilow.

Full story at AA.