President Cyril Ramaphosa will this week lead government in hosting the second South Africa Investment Conference at the Sandton Convention Centre.
Delegates gather over three days – from 5-7 November 2019 – to accelerate the country’s efforts to attract investment under the theme ‘Accelerating Growth by Building Partnerships.’
The annual conference is a key milestone in the country’s bold ambition to raise R1.2tn in new domestic and intentional investment over the next five years, the Presidency said in a statement.
The much-touted investment conference comes on the back of South Africa’s investment downgrade by Moody’s.
The ratings agency kept the country one notch above investment grade but changed the outlook from stable to negative.
Moody’s announcement followed Finance Minister Tito Mboweni’s Medium-Term Budget Policy Statement last week.
“It is also a partner initiative to the economic stimulus package and recovery plan unveiled by President Ramaphosa in 2018 to ignite economic activity, restore investor confidence, prevent further job losses and create jobs,” the Presidency added.
The inaugural conference in October last year saw international and local investors pledging R300bn worth of investment commitments in various sectors.
These ranged from mining, forestry, manufacturing, telecommunications, transport, energy, agro-processing, consumer goods, pharmaceuticals, infrastructure, financial services and energy and ICT sectors.
Rwandan-based company Mara, was one of the firms which pledged investment in South Africa.
“This year’s conference will highlight the positive steps government is making to improve the investment environment and the progress made on last year’s investment commitments.
“It will also serve as a platform for government to engage with the local and international investment community in order to promote the investment opportunities in the country and explore new markets,” President Ramaphosa said.
The conference will be preceded by a series of networking events Tuesday.
Ramaphosa will officially open and lead the conference Wednesday, which will feature focused sector specific discussions around the Fourth Industrial Revolution, mining, start-ups and SMEs, manufacturing, tourism, film, arts, sports and agro processing.
The President will on Thursday attend the ‘Business Showcase,’ a small business growth and innovation showcase to be held at the University of Johannesburg’s Soweto Campus.