African forum offers more opportunities to attract investment
The inaugural forum, AIF, which will take place from Wednesday to Friday at the Sandton Convention Centre, will focus on infrastructure development
SA could receive a boost at the African Development Bank’s Africa Investment Forum this week. This comes on the coattails of the recent investment conference, where President Cyril Ramaphosa announced that SA will receive a surge in investment of more than R290bn over the next five years; R400bn in investment pledges was also announced. This is in addition to $35bn in pledges from other countries announced earlier in 2018 that have been earmarked for investment in state-owned companies. According to World Bank data, SA’s investment-to-GDP ratio is 18.6%, which is low relative to key emerging markets. The announcement is expected to significantly affect Ramaphosa's $100bn investment drive announced in April, particularly as he comes under intense scrutiny to show tangible results from his plans to grow SA’s battered economy in the lead-up to the 2019 election.
“Ramaphosa would have had private moments with powerful people and would have been able to push his plan and his ambiti...
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