The euphoria following President Cyril Ramaphosa's swearing-in in February, referred to as Ramaphoria, is the result of renewed investor confidence in SA. But locally there are signs that Ramaphoria is waning, although offshore investors are apparently still optimistic about opportunities in SA. Ramaphosa's "special envoys on investment" have secured commitments of R464bn worth of investment from China Saudi Arabia, the United Arab Emirates and the UK. In June Mercedes-Benz announced an additional R10bn expansion of its East London manufacturing plant. Broadly, Saudi Arabia's investment will be directed towards renewable energy. There are no clear details on the sector focus for the investment from the UAE, while investment from China will focus on infrastructure, the ocean economy, the green economy, agriculture and finance. Funds from the UK will cover improvements to "ease of doing business" to make SA a conducive environment for foreign investment. For SA to make the most of the...
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