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Home»Mobile»Ramaphosa edges closer to his R1.2 trillion target
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Ramaphosa edges closer to his R1.2 trillion target

By mulegeek-April 1, 2022No Comments6 Mins Read
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President Cyril Ramaphosa: Regulatory reforms are yielding positive results

It was as much about the numbers as the mood. Investor confidence in SA inc as an attractive investment destination was on full display at the recent 4th SA Investment Conference (SAIC) hosted by President Cyril Ramaphosa.

New investments to the value of R332 billion pledged at the conference takes the President’s haul to R1.14-trillion since he announced an ambitious goal in 2018 to raise R1.2 trillion over five years.
It’s almost certain that the President will achieve this target at next year’s investment conference.

Against the backdrop of a devastating Covid-19 pandemic, slow economic growth and an energy crisis exacerbated by Eskom’s incapacity to meet rising demand, Ramaphosa maintained an upbeat tone. “I am not here to pretend that these challenges are not real,” said the President. Ramaphosa was however quick to assure that government was doing its best to address the country’s challenges.

With this as a backdrop, the depth and quantum of these pledges – which if they materialise will flow into the most critical sectors of the economy and rejuvenate growth including in some of the most marginalised regions of the country, is encouraging to SA’s economic growth prospects.

Discovery Holdings CEO Adrian Gore – in sentiments he shared during a panel discussion with outgoing Anglo CEO Mark Cutifani and Naspers South Africa CEO Phuti Mahanyele-Dabengwa, echoed Ramaphosa’s optimism. Said Gore: “It is critical to shift the negative narrative that was pervasive in the
country. This country is more resilient than people think, and our economy is even more resilient and bigger than people give it credit for,” remarked Gore.

And the number of regulatory reforms notably in the telecoms and energy sectors recently announced by
government have added impetus to private sector led – investment. One of the single biggest investments announced came from the African Development Bank (ADB), whose president, Dr Akinwumi Adesina, noted that the ADB’s R42.5 billion pledge would primarily be allocated towards projects designed to support SA’s shift towards renewables.
“South Africa has the potential to be a global energy transition leader and deliver social and employment benefits in the process” said Adesina.

Norwegian group, Scatec pledged to invest R16 billion in among others, a solar power plant based in the Northern Cape. Scatec will also channel part of its pledge in the production of biogas, photovoltaic generation capacity and lithium battery technology – technologies which are likely to dominate SA’s energy generation landscape as the country accelerates implementation of a Just Energy Transition. Local energy group, African Rainbow Energy pledged to invest R3 billion in renewable resources.

Nascent confidence in South Africa’s economic reconstruction and recovery is also reflected in the willingness of global leaders in their fields to commit investments in sectors with high potential for growth. From as far afield as Canada and China, Belgium and Turkey, and the Czech Republic there were commitments directed at infrastructure development, healthcare, property, logistics, agri-processing and
the creative industries.

Major global vehicle manufacturers doubled down on their long-standing investments in the automotive sectors through the expansion of the facilities in the Eastern Cape and Gauteng.
This is a catalyst for smaller industry players – predominantly black-owned – to announce ventures within the automotive supply chains, from tyres, to batteries, to components and assembly facilities.

Success breeds success, and the country’s initial achievements in the manufacturing of vaccines for Covid-19 attracted a host of new investments in the healthcare and pharmaceuticals sector which will greatly benefit the economies of KwaZulu-Natal, the Eastern Cape and the Western Cape.

Quotes verbatim

The Investment Conference is but one high-profile event in a process of confidence building that has gained traction. The key focus now will be to put the building blocks in place to ensure the sustainability of the commitments that were announced.
Phumzile Langeni – one of President Ramaphosa’s investment envoys.

The energy transition could provide an economic stimulus that could yield new industrial opportunities and create a net 160 000 additional jobs. This includes jobs in communities currently linked to coal. Andre de Ruyter – Eskom CEO.

South Africa can be Africa’s innovation hub for health technology and the lynchpin for healthcare in general, communications, infrastructure, biomaterials and in addressing climate change.
Dr Patrick Soon-Shiong – SA born entrepreneur based in the US.

Business should speak responsibly when it comes to public matters and support the government in its drive to grow the economy. We are all in this together.
Mark Cutifani – outgoing CEO of mining giant Anglo

South Africa has the potential to be a global energy transition leader and deliver social and employment benefits in the process.
Akinwumi Adesina – African Development Bank President.

The ground-breaking changes to the regulatory environment currently in motion – including the unlocking of spectrum for mobile communications – will accelerate this momentum. Investments in this sector have been doubling year on year for the past five years.
Samantha Pokroy – CEO of a private equity firm investing in new growth opportunities.

SAIC 2022 in numbers

1 African Rainbow Energy R3 billion 43 Videovision Entertainment R7.5 billion
2 Bio2Watt R463 million 44 PFN R650 million
3 Seraphim R437 million 45 DSV R2.2 billion
4 Polarium R30 million 46 Imperial R2.1 billion
5 Scatec R16 billion 47 Collins Residential R2 billion
6 Compagnie Mauricienne de Textile Ltee R390 million 48 Waterfall R18 billion
7 Norfund R2.25 billion 49 Telkom R7 billion
8 Meridiam R3.3. billion 50 RCL Foods R400 million
9 African Development Bank R42.5 billion 51 Synergy Blenders R94 million
10 New Development Bank R21.7 billion 52 ITAC R427 million
11 SAB R4.5 billion 53 VSA Group R204 million
12 Equator Breweries R2 billion 54 Government Incentives support programme R6 billion
13 ECP Private Equity R500 million 55 IDC support to companies, black industrialists
and SMMEs
R20.1 billion
14 Lotus R170 million 56 Swartland R106 million
15 Afrigen Biologics & Vaccines R652 million 57 National Empowerment Fund R2.5 billion
16 Cato Ridge Logistics Hub Consortium R6.2 billion 58 SEFA loans to support SMMEs R2.3 billion
17 Ford R16.4 billion 59 Everflo R65 million
18 Africa Auto Group R550 million 60 Anchora Enterprises R1.5 billion
19 BMW R800 million 61 African Quartz R139 million
20 Daimler trucks & Buses Southern Africa R190 million 62 Smartway SA R75 million
21 Fromex Industries R102 million 63 LM Diapers R75 million
22 Wheel Assemblers R180 million 64 African Rainbow Capital Tyme Bank R1.1 billion
23 Volkswagen R350 million 65 DiDi R1.2 billion
24 African Rainbow Minerals R11 billion 66 Airlift R300 million
25 Anglo Amercian R10 billion 67 Teraco Data Environments R1.1 billion
26 Implats R11.8 billion 68 Sigma Connected R267 million
27 Isondo Precious Metals R140 million 69 P&G R450 million
28 Ivanhoe Mines New Horizons R2.8 billion 70 TetraPak R500 million
29 Sedibelo Platinum Mines Kell Process R9.4 billion 71 iSanti Glass R496 million
30 Renergen R14 billion 72 Huhtamaki R150 million
31 African Rainbow Capital Kropz Elandsfontein R497 million 73 Ardagh Group Consol R1.5 billion
32 Tshwane Automotive SEZ R1.8 billion 74 Defy R317 million
33 Biovac R2.5 billion 75 LVSA Group R204 million
34 Aspen Pharmacare R500 million 76 Cape Ocean Terminals R2 billion
35 Cipla R150 million 77 Rayal R280 million
36 Pfizer R255 million 78 Hangda R300 million
37 BT Industrial Group R226 million 79 Highveld Robusteel R800 million
38 IMT R20 million 80 Nyanza Light Metals R5 billion
39 NantSA R3 billion 81 SA Steel Mills R300 million
40 Siemens R484 million 82 Scaw Metals Group R2 billion
41 Warner Media R350 million 83 Alfeco Veer Aluminium Veer Steel Mills R3.5 billion
42 Netflix R929 billion 84 Velocity Ventures R470 million
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