SA investment summit hailed a success

City Press reports that the SA Investment Conference (Saic), which took place at the Sandton Convention Centre over three days earlier this week, has been described by several business delegates as a “resounding success”. Having set a target of attracting R1.2 trillion in new investments over a period of five years, starting from last year, President Cyril Ramaphosa kicked off this year’s event by updating delegates about the commitments pledged by local and international investors at the 2018 conference.

Among the investment pledges announced this week were the following: the SA Agricultural Development Agency, represented by Roelf Meyer, pledged a R12.9 billion package for 32 agricultural projects involving both first-time and established farmers; the National Association of Automobile Manufacturers of SA unveiled a R6 billion automotive industry transformation fund over 10 years; and mobile giant MTN said it would invest R50 billion in digital infrastructure rollout and property development across 21 countries over five years.

by Lesetja Malope

Releated

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