Ramaphosa stresses South Africa’s gateway-to-Africa role as he seeks to reignite investment …

President Cyril Ramaphosa used the platform of the third South Africa Investment Conference to underline the country’s potential to act a gateway to the African market, as he sought to reignite investor interest in an economy that has been underperforming for more than a decade and has been severely damaged since the onset of the Covid-19 pandemic. In 2018, Ramaphosa set a five-year target of securing R1.2-trillion in new investment and in 2018 and 2019 combined investment pledges worth R664-billion across 102 projects had been made by domestic and foreign investors. To date, R172 billion of the committed amount had actually been invested.