Ramaphosa Announces R900B SA Investment Pledges

President Cyril Ramaphosa closed the sixth South Africa Investment Conference on Tuesday by announcing record-breaking commitments of nearly R900 billion for 31 projects across key sectors, poised to create more than 200,000 permanent jobs. The event, held at the Sandton International Convention Centre in Johannesburg, drew over 1,200 delegates from more than 50 countries, including government officials, business leaders, financiers, and development institutions.

In his keynote address and closing remarks, Ramaphosa launched a new five-year investment drive targeting R2 trillion in commitments, though he swiftly raised the ambition to R3 trillion. "We are now at the first year of this long journey that we started at two trillion, but tonight I'm changing the target," Ramaphosa said. "As President, I'm changing the target from two trillion to three trillion; that is the new target now." He noted that R450 billion in fixed investments had already been confirmed, supplemented by R479 billion from development finance institutions. The pledges span energy, telecommunications, infrastructure, property, mining, advanced manufacturing, tourism, and the digital economy, with a strong...