President Cyril’s ‘Investment Lions’ To Target $100bn

PICTURE: Mike Hutchings/Reuters

JOHANNESBURG: Ramaphosa announced this at OR Tambo International, Monday, as he was leaving for a Commonwealtth Leaders’ Summit in London.

President Cyril Ramaphosa has appointed four top financial minds as his personal special investment envoys – to travel to the four corners of the world, aiming to raise $100bn in investment for SA.  

“Since the State of the Nation Address, I said one of central priorities is how in a very significant way we can increase investment in our economy, for more growth and jobs,” he said. “New investment in the productive sectors of the economy is vital.”

Ramaphosa said there needs to be “a major push this year”, leading to an Investment Conference in August or September. By then, he wants his special investment envoys to have secured pledges from local, African and global investors.

“The aim is to raise $100bn dollars of new investment over the next five years – $20bn a year.   A mixture of local investment and Foreign Direct Investment. This is ambitious, but we believe it is realisable.

“If we raise this, we will inject a significant boost to this economy.”

The four special envoys on investment are Trevor Manuel, Mcebisi Jonas, Jacko Maree and Phumzili Langeni.

Ramaphosa said they will “travel across the world, trawl the world” – to go to would-be investors in SA, to a number of countries on the African continent….to the Middle East, Europe and the Americas.

Ramaphosa also announced Trudy Makhaya as his economic adviser, and said she would coordinate the work of the new special investment envoys. He gave an impressive run-down of recent improvements in the way the government is dealing with the country’s challenges, from SARS to the SOEs.

“We must ensure this is an era of investment, injecting growth in our economy, and addressing the issues that have been holding back economic growth. We believe we are.

“We have a really special pack of lions – and a lionesses – to hunt down investments to our country.

“I am quite excited about this initiative.”