Conference sees R134.1bn in new investments in SA
Big business is putting its money where it is needed most — into investments that will create jobs and improve SA’s workers skills
President Cyril Ramaphosa is edging closer to his investment goal of $100bn over the next five years. At the inaugural investment conference on Friday, various companies announced their investment into SA’s economy. R134.1bn in new investments were announced at the start of the conference. Here are some of the big announcements: Anglo American’s executive head in SA Andile Xhamlo announced the biggest investment of R71.5bn over the next five years on sustaining and extending the lives of its mining operations in SA, which will preserve 72,000 jobs and stimulate regional economies. “The mining sector is well poised to attract much-needed investment to support job creation and growth,” he said. Vedanta Resources has made an overall investment of R21.4bn. Vedanta Zinc CEO Deshnee Naidoo said the minerals company had invested in two world-class zinc deposits of R5bn each, as well as a complex in the Northern Cape. Mercedes Benz has committed R10bn to expanda plant in East London in prep...
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