INVESTMENT
Major state-owned entities plan to inject R420bn into economy
Major state-owned entities have indicated they expect to invest R420bn into the economy over the next five years. In April, President Cyril Ramaphosa announced a drive to attract about R1.2-trillion in investment into the country over the next five years. "We have had several meetings with the CEOs of some of this country’s larger state-owned companies … they have given us an indication of their investment plans over the coming years," Ramaphosa said during his response to the Presidency budget vote debate in Parliament on Thursday. "They have informed us that over the next [five] years, they expect to invest … R420bn into the … economy. "We are seeking investment that expands the industrial capacity of our economy, that creates jobs on … scale and that lifts millions … out of poverty." The president also appointed four investment envoys tasked with engaging domestic and foreign investors around economic opportunities in SA. Analysts think the envoys face an uphill task amid talk of...
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