Less than one-fifth of the R364.4bn pledged at second SA Investment Conference has reached SA

President Cyril Ramaphosa revealed that of the R364.4bn in investment commitments announced at the 2019 SA Investment Conference, only 18.9% had flowed into the economy.

2021-03-04 12:17:00 AM

President Cyril Ramaphosa revealed that of the R364.4bn in investment commitments announced at the 2019 SA Investment Conference, only 18.9% had flowed into the economy.

President Cyril Ramaphosa revealed that of the R364.4bn in investment commitments announced at the 2019 SA Investment Conference, only 18.9% had flowed into the economy.

Political correspondent03 March 2021 - 21:30President Cyril Ramaphosa told parliament that companies in tourism and hospitality, renewable energy, oil and gas, the oceans economy, automotive and infrastructure were among those that had so far contributed. File photo.

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Image:Esa Alexander/Sunday TimesOnly 19% of the funds pledged during President Cyril Ramaphosa’s second investment conference have flowed into SA's economy.Ramaphosa has revealed that of the R364.4bn in investment commitments announced by 71 companies at the 2019 SA Investment Conference, just R69bn — 18.9% of the total value — had actually arrived, as per reports received from companies.

Ramaphosa said 60 of the 71 companies were responsible for the R69bn investment in-flow.“This figure is based on quarterly updates received directly from the companies and reflect the status quo as at January 31 2021,” he said.Ramaphosa revealed this in a written reply to a parliamentary question published on Wednesday. headtopics.com

He was responding to DA MP Manny de Freitas, who wanted to know how much of the R364bn investment commitments has been invested to date, by what number of companies, and on what dates the investments were made.“What is the nature of such investments in each case and how have the investments contributed to the economy to date?” he asked.

Ramaphosa’s response shows that companies in tourism and hospitality, renewable energy, oil and gas, the  oceans economy, automotive and infrastructure were among those that had so far contributed.Ramaphosa said the 2019 investment announcements were at different stages of progress and implementation, and included site clearances, installation of bulk infrastructure, commissioning of plant equipment, and factory launches.

“These activities are contributing to the creation of jobs and economic development across provinces,” he said.Ramaphosa hosted the second SA Investment Conference in Johannesburg in November 2019. Read more: Times LIVE »

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He’s probably ‘shocked’ again. I wonder if he will setup another committee to investigate why ? I owe you an apology to ever doubt your sincerity and professionalism. It’s was just like a dream to me when I received my first payment. After my second payment it became a reality now after several payments it has become a way of life. marksust7

Niyamuthanda lobaba. I have every reason to announce to you all because at least I'm trading with the right account manager William_lil2 , he has make me never to look on my pay check. Honestly seismic investments for real positive change, for a growing economy will be from us the sons & daughters of the land using enterprise for development growth. Outsiders, those who will be interested, will be catching on to our momentum.

Interest rates were cut by the reserve bank - investors did a u-turn. I am sure he is 'shocked'. Mxm