Government’s new plan to draw R1.2 trillion in investments to South Africa
President Cyril Ramaphosa will lead the second South Africa Investment Conference to be held at the Sandton Convention Centre, Johannesburg, from 5 to 7 November 2019.
In a statement on Monday (4 November), the presidency said that the annual conference is a key milestone in the country’s bold ambition to raise R1.2 trillion in new domestic and intentional investment over the next five years.
“This year’s conference will highlight the positive steps government is making to improve the investment environment and the progress made on last year’s investment commitments,”
“It will also serve as a platform for government to engage with the local and international investment community in order to promote the investment opportunities in the country and explore new markets,” said Ramaphosa.
Ahead of the conference’s launch, the government has published a 120-page report focusing on why you should invest in South Africa.
The report focuses on 10 key reasons why you should invest in South Africa, as outlined below.
- Vibrant emerging market – Growing middle class, affluent consumer base, excellent returns on investment.
- Most diversified economy in South Africa – South Africa has the most industrialised economy in Africa. It is the region’s principal manufacturing hub and a leading services destination.
- Largest presence of multinationals on the African continent – South Africa is the location of choice for multinationals in Africa. Global corporates reap the benefits of doing business in SA, which has a supportive and growing ecosystem as a hub for innovation, technology and fintech.
- Progressive Constitution and independent judiciary – South Africa has a progressive Constitution and an independent judiciary. The country has a mature and accessible legal system, providing certainty and respect for the rule of law.
- Favourable access to global markets – The African Continental Free Trade Area will boost intra-African trade and create a market of around 1.3-billion people with a combined gross domestic product (GDP) of USD2.3-trillion that will unlock industrial development. SA has several trade agreements in place, creating an export platform into global markets.
- Abundant natural resources – South Africa is endowed with an abundance of natural resources. It is the leading producer of platinum group metals (PGMs) globally. Numerous listed mining companies operate in SA, which also has world-renowned underground mining expertise.
- Advanced financial services and banking sector – South Africa has a sophisticated banking sector with a major footprint in Africa. It is the continent’s financial hub, with the JSE being Africa’s largest stock exchange by market capitalisation.
- World-class infrastructure and logistics – A massive governmental investment programme in infrastructure development has been underway for several years. South Africa has the largest air- and sea-ports, as well as logistics networks in Africa, and is ranked number one in Africa in the World Bank’s Logistics Performance Index.
- Young, eager labour force – South Africa has a number of world-class universities and colleges producing a skilled, talented and capable workforce. The country boasts a diversified skills set, emerging talent, a large pool of prospective workers and government support for training and skills development.
- Excellent quality of life – South Africa offers a favourable cost of living, with a diversified cultural, cuisine and sports offering, generally superb weather all year round and a world-renowned hospitality sector.
You can read the full report below:
The Case for Investing in South Africa by BusinessTech on Scribd
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