One-third of investment pledges to South Africa fulfilled

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South africa Currency Rands
South africa Currency Rands
Spining

One-third of all the 152 investment commitments made in the past three versions of the South African Investment Conference (SAIC) have been completed, said the Minister of Trade, Industry and Competition Ebrahim Patel Monday.

“Of the 152 investment announcements made previously, 45 projects have already been completed,” said Patel while briefing the media about preparations for the fourth SAIC.

Fifty-seven other projects are currently under construction, while 15 more projects are either progressing slowly or have been put on hold due to the impact of the pandemic or economic factors, according to the official.

Patel said some have launched their establishments while some are scheduled to do so in the near future.

The SAIC is part of the government’s investment drive to attract 1.2 trillion Rand (about 77.6 billion U.S. dollars) worth of investments over five years. So far, 64 percent of the overall commitment target had been achieved.

Presidential economics advisor Trudy Makhanya said in the coming investment conference they will convince the potential investors by unveiling opportunities in the mining, agriculture, energy, fintech, digital economy, and infrastructural projects. Enditem

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