Sappi pledges R14bn at investment conference

President Cyril Ramaphosa has officially opened South Africa Investment Conference 2019 at the Sandton Convention.

This conference is aimed at unlocking investment opportunities from local and international business.

RELATED: Investment summit hopes to boost economy and put SA on the map

Last year, nearly R290 billion had been committed for investment in various sectors of the country's economy.

Ramaphosa told investors and business leaders that South Africa is in repair mode and it is repositioning itself and state-owned entities.

As we put in place the pillars of sustained growth into the future, we are working to address immediate concerns, specifically the effects of two negative quarters of negative growth in our economy.

Cyril Ramaphosa, President - South Africa

Clement Manyathela on the Xolani Gwala Show chats to EWN reporter Theto Mahlakoana who is at the conference.

There has been a number of companies that have raised their hands to say they still believe in project South Africa and they believe that the future looks bright. Discovery has pledged R1.4 billion towards building a digital bank.

Theto Mahlakoana, Reporter - EWN

She says the South African Pulp and Paper Industries (Sappi) also pledged R14 billion towards the improvement of plants in KwaZulu-Natal and Mpumalanga.

These companies also came to give an update of what has been done since they last pledged last year.

Theto Mahlakoana, Reporter - EWN

Listen below to the full interview:


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