Local, international investors pledge to invest in S. Africa

The fourth South African Investment Conference was held in Johannesburg on Thursday and attended by delegates from more than 40 countries. A total of 80 investment pledges were made with a value of $1.5 billion.

In his closing remarks, President Cyril Ramaphosa said out of the $80 billion investment the country intends to attract over five years, $76 billion has been raised.

Ramaphosa said the government is making structural changes to make the investment environment conducive, including ensuring a reliable supply of electricity, improving efficiency of ports and auctioning of the spectrum to improve network coverage and speed. He stated South Africa has revised the critical skills list to attract skilled professionals to work and do business in the country.

Richard Rivett-Carnac, CEO of South African Breweries, said it is worth investing in the country because of the independent judiciary and better infrastructure than other African countries.

He said: "There are efficient capital markets which allow the flow of capital, access to it and allows companies to repatriate funds. Many investors when choosing an investment destination consider the ability to repatriate funds."

Rivett-Carnac pointed out if the government speedily implements some positive reforms, they will continue to invest more in the country.

Allan Seccombe, the Minerals Council's head of communications, told China Daily there are many opportunities in the country in clean energy. He said the country is rich in platinum group metals, manganese, copper, zinc and nickel for potential investors. Seccombe explained the government has to address energy shortages and red tape in approving mining licenses.

Lindiwe Sisullu, minister of tourism, said some tourists are concerned about the country's security. She stated they are training youths to help the police and tour guides to ensure tourists are safe. South Africa is a safe destination for tourists and investors, she said.