Ruptly
"President Cyril Ramaphosa touted South Africa as a 'favourable proposition' for investment and business in the current climate - and set a new R2 trillion ($120 billion) investment target - at the 6th South Africa Investment Conference (SAIC) in Johannesburg on Tuesday. "We are meeting at a time of uncertainty for the global economy; geopolitical fragmentation, supply chain disruptions from conflicts and wars, and trade tensions are radically impacting global capital flows," Ramaphosa said. "In such conditions, South Africa presents what I would call a favourable proposition as a resilient, credible, and reform-oriented investment destination with strong fundamentals," he continued. "Today, we have with us more than 1,200 delegates from more than 50 countries around the world who believe in South Africa's potential and see this as a favourable place to invest and to do business. You are here because you want to be part of our growth story.” The president highlighted that South Africa exceeded its R1.2 trillion target by attracting R1.5 trillion in verified investments between 2018 and 2023, proving the domestic market's strength and credibility. "Your presence here signals that you see what we see: real and enduring potential, long-term value, and untapped opportunity," he continued. "You are here because you want to be part of our growth story." Ramaphosa noted that South Africa's G20 presidency boosted its global profile, securing investment commitments from 22 source markets across six continents. More than 1,200 delegates from over 50 countries attended the conference, including heads of state, multinational business leaders, and representatives of global sovereign wealth funds. Global energy markets remain under pressure following escalating tensions in the Middle East, particularly after the launch of US-Israeli military operations against Iran on February 28. The conflict has disrupted key shipping routes via the Strait of Hormuz and driven oil prices sharply higher."
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