Today's Labour News

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ramaphosa2City Press reports that the SA Investment Conference (Saic), which took place over three days last week, has been described by several business delegates as a “resounding success”.  

Having set a target of attracting R1.2 trillion in new investments over a period of five years, starting from last year, President Cyril Ramaphosa kicked off this year’s event by updating delegates about the commitments pledged by local and international investors at the 2018 conference.  He indicated that a significant number of investment pledges made last year, amounting to almost R300 billion, had materialised.  “Of the 31 projects announced in 2018, eight have been completed and the money has been spent, and 17 are in their construction or implementation phase ... In total, this represents R238 billion of investments that were announced last year,” said the president.  Among the investment pledges announced this week were the following: the SA Agricultural Development Agency pledged a R12.9 billion package for 32 agricultural projects involving both first-time and established farmers; the National Association of Automobile Manufacturers of SA unveiled a R6 billion automotive industry transformation fund over 10 years; and mobile giant MTN said it would invest R50 billion in digital infrastructure rollout and property development across 21 countries over five years.  Martin Kingston of Business Unity SA agreed that the conference had been a resounding success,

  • Read the full original of the report in the above regard by Lesetja Malope at City Press
  • Read too, R363 billion boost for Ramaphosa, at City Press
  • And also, Investors enthusiastic about their pledges to SA, at Saturday Citizen


Get other news reports at the SA Labour News home page