Ramaphosa raises half of his R100 billion target, but what is this money for?

According to Sikonathi Mantshantsha, Deputy Editor at Financial Mail, President Cyril Ramaphosa has managed to raise half of the target he set two months ago.

Ramaphosa set a target of R100 billion in investments and has to date secured R50 billion in foreign investments.

However, Mantshantsha says the presidency is not clearly communicating what this money is for except that a large chunk will be used to rescue troubled State Owned Entities like Eskom and Transnet.

Read: China commits to invest $14.7 billion in South Africa

What will this money be used for, we don't know much...

Sikonathi Mantshantsha, deputy editor at Financial Mail

This is not a gift by the way. They will have to identify investment opportunities and hopefully get their returns from those.

Sikonathi Mantshantsha, deputy editor at Financial Mail

This is really great that he has already raised half of the target he set two months ago. One would be tempted to think that maybe the target was very low, absolutely not.

Sikonathi Mantshantsha, deputy editor at Financial Mail

When we had another President, whose name I can't mention, no one was offering to invest here.

Sikonathi Mantshantsha, deputy editor at Financial Mail

To hear the rest of the conversation with Sikonathi Mantshantsha, listen below:


This article first appeared on CapeTalk : Ramaphosa raises half of his R100 billion target, but what is this money for?


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