Kgosientso Ramokgopa appointed head of investment infrastructure office

JOHANNESBURG - Former Gauteng Economic MEC Kgosientso Ramokgopa has been appointed to head the president’s investment infrastructure office on Monday.

The president has also appointed former ministers Jeff Radebe and Derek Hanekom, as well as Elizabeth Thabethe as special investment envoys.

The Presidency on Monday said the office would oversee coordination between all structures dealing with infrastructure development.

Ramokgopa resigned to allow Gauteng Premier David Makhura to comply with the African National Congress’ 50-50 gender parity policy and appoint a woman.

He was replaced by Morakane Mosupyoe, the former chairperson of the Social Development portfolio committee at the Gauteng legislature.

Meanwhile, Ramaphosa is facing an uphill battle to beat last year’s investment amount achieved at his inaugural investment conference.

This year’s investment conference is set to get under way in Sandton on Tuesday night.

The president’s first investment conference was able attract R300 billion last year.

The attendance by Alibaba boss Jack Ma also set the bar high. But can South Africa maintain that standard or beat it this year?

Development economist Ndumiso Hadebe said investments that are required to turn the economy around, such as manufacturing, also required stability from essential service providers such as Eskom and this has not yet been achieved.

Hadebe said it won’t be easy.

“It will be a difficult task for the president to convince investors because these investments are not only in financial markets, but they are fixed investments, like manufacturing, where you need to buy machinery and employ more people who would need to demonstrate commitment in the long term.”

But Hadebe said not all was lost.

“The challenges he faces are within the control of government, particularly with respect to our biggest risk, sovereign fiscal standing in Eskom. We saw the impact that the lack of power had in the first quarter GDP numbers of this year when we contracted 3.1% but, of course, when electrical power was much more stable, we saw an equitable improvement in the second quarter of this year.”

Hadebe said how President Ramaphosa would deal with reforms, including the unbundling and financing of Eskom, would be key in convincing more investors to come to South Africa.


This article first appeared on EWN : Kgosientso Ramokgopa appointed head of investment infrastructure office


Recommended

by NEWSROOM AI
Read More
Lesotho PM Thabane appears in Maseru court after Friday no-show

Lesotho PM Thabane appears in Maseru court after Friday no-show

Thabane's office said he left for South Africa early on Friday morning to seek emergency medical attention.

Resign or we will block the budget – Lesotho opposition tells Thabane

Resign or we will block the budget – Lesotho opposition tells Thabane

ABC leader and Lesotho Prime Minister Tom Thabane has announced twice that he will retire with no time specified.

Zondo expresses concern over state capture inquiry not completing its work

Zondo expresses concern over state capture inquiry not completing its work

The commission chair applied for an extension of the inquiry until the end of December this year.

Will Zuma appear before the Zondo commission this time?

Will Zuma appear before the Zondo commission this time?

The commission's legal team has applied for a summons for President Zuma to appear after he failed to do so last year saying he was ill, after he had requested a postponement to deal with his corruption case.

Matric class of 2019 achieves 81.3% pass rate

Matric class of 2019 achieves 81.3% pass rate

Basic Education Minister Angie Motshekga said the class of 2019 had breached the 80% threshold for the first time.

Umalusi approves 2019 matric exam results for release next week

Umalusi approves 2019 matric exam results for release next week

The 2019 NSC results will be announced on Tuesday 7 January, with individual results available at schools the following day.

Popular articles
'Journalists, lawyers under surveillance should get enhanced protection'

'Journalists, lawyers under surveillance should get enhanced protection'

Attorney Dario Milo, for AmaBhungane, bids to confirm high court judgment which found that parts of the Rica are unconstitutional

Yunus Carrim relates how MultiChoice used its power to influence policy - report

Yunus Carrim relates how MultiChoice used its power to influence policy - report

Eyewitness News reporter Bonga Dlulane shares details on some of Carrim's testimony concerning the SABC/MultiChoice deal.

Premier David Makhura presents 'Growing Gauteng Together for 2030' 10-year-plan

Premier David Makhura presents 'Growing Gauteng Together for 2030' 10-year-plan

Eyewitness News reporter Kgomotso Modise gives a summary of the state of the province address.

When women see other women as a threat: unpacking the queen bee syndrome

When women see other women as a threat: unpacking the queen bee syndrome

Lee Kasumba speaks to Mancosa academic and former human resource executive Dr Aradhana Ramnund-Mansingh.

Former Egyptian president Hosni Mubarak dies aged 91

Former Egyptian president Hosni Mubarak dies aged 91

Mubarak ruled Egypt for 30 years and in 2011, he was overthrown during protests known as Arab Spring.

It is not our place to question where Duduzane's pledge comes from - UKZN SRC

It is not our place to question where Duduzane's pledge comes from - UKZN SRC

Zuma has pledged an undisclosed amount of money in order to cover some of the historic debt of students at the university.

Regulator to take action against manufacturers of recalled tinned pilchards

Regulator to take action against manufacturers of recalled tinned pilchards

Eyewitness News reporter Veronica Makhoali says the NRCS urges consumers to look out for leaking cans.

Eskom cuts power but shuns Brian Molefe and others who looted - Seth Mazibuko

Eskom cuts power but shuns Brian Molefe and others who looted - Seth Mazibuko

The Gauteng Housing Crisis Committee spokesperson says the protest is not about Soweto, but is a national issue.

History for the Future: "The trial that changed South Africa”

History for the Future: "The trial that changed South Africa”

In this episode, Andrew Mlangeni recounts how he travelled back to South Africa in the face of mounting tensions.

[LISTEN] Robert McBride reflects on his upbringing and political life

[LISTEN] Robert McBride reflects on his upbringing and political life

The former Ipid head sat down with Eusebius McKaiser for a profile interview.