Home South African Ramaphosa postpones SA investment conference until March

Ramaphosa postpones SA investment conference until March

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The 4th South African Investment Conference scheduled for this month has been postponed to March next year, President Cyril Ramaphosa announced in his weekly letter.

President Cyril Ramaphosa. File picture: Reuters

THE FOURTH South African Investment Conference scheduled for this month has been postponed to March next year, President Cyril Ramaphosa has announced.

In his weekly letter on Monday, Ramaphosa said that the event had been postponed due to other important events that are taking place in November, citing the ongoing conference on climate change in Glasgow, the local government elections, and the forthcoming intra-African trade fair as reasons for the postponement.

South Africa held the first such conference in 2018 as part of its ambitious drive to raise R1.2 trillion in new investment over five years.

Together, the conferences held over the past three years had raised more than R770 billion in investment commitments across a wide range of economic sectors.

Ramaphosa said the money raised in these conferences resulted in investment opportunities that were used to generate jobs and assist the economy rebuilding.

“Most importantly, we are building a firm foundation for a sustained economic recovery that encourages further investment, creating more jobs and providing new opportunities for emerging businesses,” he said.

The president said the energy sector also received some important investments.

Xinhua

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