We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

A big song and dance has been made about investment pledges secured by President Cyril Ramaphosa in July, with the Saudis and Emiratis pledging $10bn each and the Chinese promising $14.7bn, bringing him over a third of the way to his target of raising $100bn in five years. Making promises is one thing; breaking ground on a factory or oil refinery quite another. So let’s keep the champagne on ice until we see those dollars actively at work on South African soil. The reality is that Ramaphosa’s $100bn target, while it should be encouraged, will be nigh impossible to reach. Over the past six years, SA managed to attract just shy of $24bn in foreign direct investment (FDI) – less than the average annual target set by Ramaphosa – while outflows totalled nearly $35bn. On a net FDI basis, we’re actually in the red to the tune of $11bn. In fact, SA is one of the world’s top 10 investor economies based on FDI stock (direct investments held abroad), according to the latest World Investment Re...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.