Johannesburg, 24 March 2022 (TDI): The fourth South African Investment conference recently opens at Sandton Convention Centre in Johannesburg.

Delegates and companies from across the world participating in the conference apart from business leaders and high profiled government officials.

President Cyril Ramaphosa opened the South Africa Investment Conference in Johannesburg, this was the first in-person conference since 2019. The president had words of encouragement amidst the global pandemic and the ongoing war in Ukraine and its resultant effects on the global economy.

President Cyril Ramaphosa addressed the inaugural session of the Conference. He has noted the government’s progress in regards to the economy with the African Development Bank pledging $2.8 billion to the country over the course of five years.

President of South Africa highlighted that South Africa is facing huge challenges at the moment as the economy has been severely damaged with the loss of two million jobs. He further added that the government has taken several steps including new social and economic relief packages as well as reforms in the taxation system to help stimulate economic growth.

President said that several reforms are taking place to the country’s energy sector including its key energy provider Eskom, and additional generation capacity, mainly through solar and wind. President Ramaphosa also added that a presidential task force has been set up to move South Africa to a low carbon emission country

The President of the African Development Bank Group, Akinwumi A. Adesina said on the occasion that South Africa is bankable, as the multibillion-dollar pledge was made, an additional $400 million will be used to support South Africa’s Eskom and the country’s energy transition.

“This financing will support public and private sector investments in priority areas of agriculture, renewable energy, transport, youth employment, health, vaccines manufacturing, among others…” President of the African Development Bank Group, Akinwumi A. Adesina.

The African Development Bank Group has provided $4.5 billion in financing to South Arica since 1997, with an additional $7 billion invested in the country’s energy and infrastructure.

South Africa Investment Conference

Since its launch in 2018, the South African Investment Conference (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. To date, SAIC has attracted more than R700 billion worth of investment commitments.

As SA seeks to recover from the economic challenges exacerbated by the Covid-19 pandemic, tackling unemployment, poverty, and inequality among others remains a key priority for the government.

The 4th SA Investment Conference seeks to build on the successes of the previous editions of SAIC and will showcase the strengths and competitive advantages that South Africa offers and why it is an ideal investment destination for local as well international investors looking to grow in Africa.

For further information about this year’s conference follow this link 

 

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