The truth behind Cyril’s R1.5-trillion investment pledges
South Africans are not fooled by politicians’ hot air. President Cyril Ramaphosa’s target-beating investment conference is the latest example. In reality, South Africa has been mired in a low-investment crisis for more than a decade and is spending less on infrastructure and fixed investment in real terms than it did five years ago
27 April 2023 - 05:00
Two weeks ago, President Cyril Ramaphosa strode to the podium to close the fifth investment conference in Sandton, delivering a story of outlandish success.
“We have now hit R1.51-trillion in commitments, meaning we have overshot our initial R1.2-trillion target by 26% — a whopping R301bn,” he said. “For us to have been able to meet our five-year target, despite major challenges and disruptions, is no mean feat. It’s a stellar achievement.”..
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