The government plans to hold its sixth investment conference later this year as it accelerates its push to attract R2-trillion in new investments over the next five years.
The event was announced by President Cyril Ramaphosa in reply to a question in the presidency budget vote debate.
The upcoming conference is expected to be a key moment in the government of national unity’s (GNU) push to revitalise growth, create jobs and strengthen economic diplomacy. It follows the success of five previous iterations of the SA investment conference which collectively helped the country surpass its initial R1.2-trillion investment target set in 2018.
“The sixth SA Investment Conference will be held later this year as we deepen our efforts to position the country as a compelling destination for global capital,” Ramaphosa told MPs on Thursday. “Having reached our original investment target, we’ve now set a new, more ambitious goal of attracting R2-trillion by 2028.
“The investment conferences have not only been about announcements, but also about building lasting partnerships, securing capital and demonstrating policy coherence,” he said.
In 2024, new projects worth R454bn were announced by public and private sector players, marking the highest level of fixed infrastructure investment since 2021, he said. The previous target of R1.2-trillion was set in 2018. The fourth SA investment conference in 2022 raised R367bn in investment commitments.
“The upcoming investment conference will also align with broader GNU priorities, particularly inclusive growth, employment and the just energy transition,” Ramaphosa said.
Unlike 2018 when the first round of the investment drive was announced, Ramaphosa enters the new phase with SA’s economic prospects threatened by the looming 30% tariff on the country’s exports to the US. These tariffs, according to Reserve Bank governor Lesetja Kganyago, could result in the loss of 100,000 SA jobs.
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