President Cyril Ramaphosa will officially open the much-anticipated fourth South African Investment Conference (SAIC) at the Sandton Convention Centre, in Johannesburg, on Thursday.
In 2018, the President committed to raising over R1.2 trillion worth of investments in five years to boost economic growth and stimulate employment.
Since that year, the President has hosted three annual Investment Conferences at which he set out the policy context and reforms and the private sector provided feedback and made pledges to invest.
The SAIC has drawn delegates from South Africa and the rest of the world with the objective of showcasing the investment opportunities available in the country. However, in 2021 the COVID-19 pandemic led to the postponement of the conference.
According to a statement on the SA Investment site, R774 billion has been pledged to date – two-thirds of the goal, with the investments spread across mining, manufacturing, agriculture, the digital economy and more.
“This leaves another R426 billion to be raised in the next two years. Of the 152 pledges made during the first three investment conferences, 45 have been completed or will soon be completed and 57 are under construction. Some 40% of the committed investment pledges had been expended by the end of February,” the statement read.
The programme at the all-day conference includes a keynote appearance by Dr Patrick Soon-Shiong, a South African now residing in the United States, who established a COVID-19 vaccine plant in Cape Town.
Dr Soon-Shiong is a transplant surgeon, billionaire businessman, bio-scientist and media-owner, known for his development of Abraxane which is known for its efficacy against lung, breast and pancreatic cancer.
The morning session will kick off with an investment announcement by the African Development Bank, an introduction by Department of Trade, Industry and Competition Minister, Ebrahim Patel, an opening address by President Ramaphosa followed by a panel discussion on the South African investment case.
Late in the afternoon, the focus will switch to growing opportunities in Africa, via investments made locally.
“The rest of the day will be given over to a wide range of interests, including improving the business environment, focus on infrastructure finance and digital opportunities, tourism, impact investing, the small business sector, energy, mining, manufacturing plus a discussion on social compacts to support investments at district level.”
Of key interest will be South Africa’s creation of an attractive business platform by focusing on economic growth, the rapid introduction of economic reforms, including improving the regulatory environment.
The conference will also host Business Awards with the President wrapping up the conference with closing remarks. – SAnews.gov.za
