- President Cyril Ramaphosa says that doubts over the ability to raise R1.2 trillion in investment are giving way to optimism
- With the success of the recent South Africa Investment Conference, the politician says the pledged amounts have exceeded expectations
- Ramaphosa is pleased that efforts to strengthen the economy are yielding positive results
President Cyril Ramaphosa has addressed citizens with some good news, revealing that the ambition to raise R1.2 trillion in new investment is closer to reality than fantasy.
In his weekly letter to South Africa, Ramaphosa commented on the successful endeavour:
"In April last year, I announced our ambition to raise $100 billion – equivalent to R1.2 trillion – in new investment over five years. This was aimed at boosting the rate of investment in our economy, which had been declining over several years. Not surprisingly, there was a fair amount of scepticism about our ability to succeed in raising this amount of investment."
Briefly.co.za reported that R363 billion was committed by some of the nation's largest companies, R63 billion more than last year.
While impressive, Ramaphosa says the true measure of success is the impact the commitments have on average citizens.
The president revealed that nearly half a million employment opportunities will be created over the next few years as the projects come to life.
Improving the lives of South Africans across the board is the true aim of all the hard work put into raising capital for the country:
"The benefit of increased investment extends far beyond raising capital to fund key projects. It is about the creation of a good and decent job for every South African, enabling them to feed their families, to own or build a home, and to save for their children’s education and for retirement."
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