Ramaphosa sets R2 trillion investment target for SA

President Cyril Ramaphosa has announced an ambitious new investment drive targeting R2 trillion over the next five years, thereby positioning South Africa as a competitive and reform-oriented destination for global capital. Speaking at the sixth South Africa Investment Conference held at the Sandton Convention Centre on Tuesday, Ramaphosa said the country was entering a new phase of economic expansion underpinned by structural reforms which will improve macroeconomic indicators. Attended by over 1 000 delegates from more than 50 countries, the conference was a signal to renewed investor confidence in Africa’s most industrialised economy.

Ramaphosa said the government’s economic reform programme, driven through Operation Vulindlela, had begun to yield measurable results. Citing South Africa’s economic growth over four consecutive quarters, stabilising inflation and an improved sovereign credit outlook, as proof that the country has entered the “expansion phase”, Ramaphosa said the country was now open for investment. The country’s removal from the Financial Action Task Force grey list and its hosting of the G20 summit last year, Ramaphosa said, has further strengthened its global standing.

The new investment mobilisation drive, Ramaphosa said, would build on the R1.5 trillion in commitments secured between 2018 and 2023, with a focus on sectors such as energy, infrastructure, manufacturing, mining beneficiation, and digital technologies. “The shift in our economic trajectory is the result of deliberate, sustained reform. “This year’s South Africa Investment Conference marks the formal transition from recovery to expansion, and from rebuilding confidence to accelerating growth,” he said. He also pointed out progress in the energy sector, where load shedding has been brought to an end following extensive restructuring of Eskom and the introduction of a more competitive electricity market, as yet another indicator that the country was on a growth trajectory.