Since assuming the South African Presidency in February Cyril Ramaphosa has embarked on an investment drive with the stated ambition to raise over R 1 trillion in new investments over the next 5 years.
To this end he has appointed four special envoys who will be specifically tasked with engaging both domestic and foreign investors with regards to economic opportunities in South Africa. The special envoys were recently named and include the following well known South African businessmen and former politicians:
The envoys will be travelling to major financial centres in Asia, Middle East, Europe and the Americas to meet with potential investors. A major part of their responsibility will be to seek out investors in other parts of Africa.
The President also named businesswoman Trudi Makhaya as his Economic Advisor. Makhaya holds a number of degrees in Business and Economics, including from Oxford University and the University of the Witwatersrand, and has vast experience in the financial sector. Makhaya will be tasked with coordinating the work of the four special envoys as well as arranging a series of investment roadshows in preparation for an investment conference which will be held in August or September 2018.
Ramaphosa recently secured 50 million pounds (R 875 million) in funding from the United Kingdom to help South Africa improve its business environment, making it more attractive to investors with the aim of creating jobs and opportunities. This funding was secured after a meeting with the British Prime Minister Theresa May where May indicated Britain’s willingness to support South Africa’s transformation and National Development Plan.
Earlier in the year Ramaphosa also attended the World Economic Forum held in Davos, Switzerland. Ramaphosa was particularly upbeat about the response received at this forum and said “the South African delegation returned with a bag full of investment commitments.”
“Many of the business leaders I have met here have said they are buoyed by this new mood in the country. We want to hear the investing world saying that your message is clear, positive and forward-looking. It is the type of message that you can have confidence in and correct some of the missteps in the past,” said Ramaphosa.
The success of the investment will be one that positively impacts South Africa and paints the National Brand with strokes of a better brighter economy.
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