SA to get more than R290bn in investment as business comes to the party
At the investment conference in Sandton, President Cyril Ramaphosa declares the ‘investment strike’ over
As the second day of the investment conference comes to an end, SA will receive a surge in investment of more than R290bn over the next five years. This will have a significant impact on President Cyril Ramaphosa’s $100bn investment drive announced in April. “There have been accusations that SA is on an investment strike. Today maybe I can say the strike is over,” said Ramaphosa in his closing remarks. On top of the R134.1bn in investment announced on Friday morning, here are some of the additional investments announced at the conference: Vodacom will invest R50bn over the next five years as it delves into 5G. Automotive traders, including BMW, Mercedes Benz, Ford, Toyota, Isuzu, Nissan and Volkswagen (VW) will, together, invest more than R40bn in SA in the next five years. In addition, they will establish a long-range strategy for SA, to be called the SA Master Plan from 2021 to 2035 and will include doubling local manufacturing projects to support the re-industrialisation of the c...
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