Markets South Africa

South Africa calls for investment to boost economic transformation

$20bn was successfully secured in pledges by South Africa at this year’s South Africa Investment Conference which held in Johannesburg.

$100bn worth of investment over five years is the goal for Africa’s most industrialized economy and they are very close to reaching it. President Cyril Ramaphosa’s aim is to position South Africa as a global investment centre for the economic reform and recovery strategy.

One of the main sectors getting attention from investors is energy. G7 nations have announced they will commit $8.5bn (€7.6) to help the country break its dependence on coal.

African Development Bank President Akinwumi Adesina said that “The African Development Bank believes in South Africa. You can see it in what we do. The bank’s current portfolio in South Africa totals $3.2 billion”.

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