South Africa will attract $ 20 billion more investment by 2023

South African President Cyril Ramaphosa. Photo: Twitter/PresidencyZa

NEWSROOM (ADV) – South African President Cyril Ramaphosa on Friday described the first edition of the Investment Conference in South Africa as successful after companies pledged to invest 290 billion rand (about $ 20 billion) in the country next five years.

Several companies in the mining, telecommunications, manufacturing and automotive sectors have responded to Ramaphosa’s call to invest in the South African economy.

The interest displayed on this occasion by local and international investors is enormous, welcomed the South African head of state in his closing speech at the conference held in Johannesburg, noting that these new commitments did not include those already done in recent months.

They “are in addition to the commitments of more than 400 billion rand (about 27 billion dollars) that have been made by several governments in recent months.We are already working to turn them into firm commitments,” said Cyril Ramaphosa.

Since taking office in February, Ramaphosa has been trying to attract investors to his country. His government has set a goal of attracting more than $ 100 billion in investment into the national economy within five years.

© Bur-csa – N.W – African Daily Voice (ADV)