A commitment to build a new $100m (R1.45bn) hi-tech smartphone manufacturing plant by Dubai-based Mara Group is among the nearly R290bn in investments, including those from South African businesses, that rolled in at President Cyril Ramaphosa's investment conference on Friday. The moves are being seen as a signal that the so-called investment strike by the corporate sector may be over. ’ ‘ The investment commitments span sectors such as mining, telecommunications and media and manufacturing. These are projects that had already undergone rigorous checks and balances and are bankable. This is in addition to $35bn in pledges from other countries announced earlier this year, which have been earmarked for investment in state-owned companies. The government has appointed task teams to work with these countries to convert these pledges into investments, though trade & industry minister Rob Davies did not elaborate on the timeline for this process during a press briefing on the sidelines of...

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 exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.