South Africa: Promise Tracker - Business Backs Ramaphosa Again, Moving Closer to His Trillion-Rand-Plus Investment Target

analysis

At the start of the second SA Investment Conference on Wednesday 6 November 2019, President Cyril Ramaphosa was upbeat as more than R100bn in investments was pledged by about a dozen companies and business partnership forums before morning tea.

"This is no talk shop. This is serious business."

This was president Cyril Ramaphosa's rebuttal to arguments that his campaign to raise R1.2-trillion in new domestic and international investments over the five years is slow and herculean, given SA's deteriorating economy which spooks would-be investors.

Labour alone - mainly the South African Federation of Trade Unions - has written off Ramaphosa's investment campaign, calling it a "pure jamboree" designed to raise "false hopes that steps are being taken to address the very low investment levels by both the private sector and the public sector".

At the start of the second South Africa Investment Conference, on Wednesday 6 November 2019, Ramaphosa was upbeat as more than R140-billion in investments was pledged by a dozen companies and business partnership forums before morning tea on the day. By the end of the day, more than R250-billion had been pledged.

As at the inaugural conference in 2018, a significant portion of these investments had been...

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