At the South African Investment Conference on Wednesday, President Cyril Ramaphosa confirmed that there was an investment commitment of R363 billion which is estimated to create 412 direct jobs over the next five years.
The gathering is part of the president's investment drive to improve the country's economic growth and deal with a 29.1% unemployment rate by raising R1.3 trillion.
The president had tasked Trevor Manuel, Mcebisi Jonas, Jaco Maree, and Phumzile Langeni to attract the much-needed investment to turn the country's economic situation around.
Bongani Bingwa chats to Langeni on whether the four individuals' efforts will yield tangible results.
The raising of the R1.3 trillion is an amazing start given where we have come from over the last few years. Underlying that ambition is the hope that we can all do better than the R1.3 trillion, but it will give us a much needed shot in the arm.— Phumzile Langeni, Presidential Investment Envoy
She says pledges by different companies have been converted into projects on the ground and indicates that certain time-frames were also given.
In some instances, they will be rolled out over a three-year and five-year period. Certainly, these investments are not fluff, this is actual money that has been pledged.— Phumzile Langeni, Presidential Investment Envoy
She says one of the most tangible investments was the Mara Phones launch and the Bidvest Terminal.
Those are actual new investments that have come into South Africa. For us to be able to get these investments, it shows that the investment community believes that progress has been made and people are seeing tangible reforms.— Phumzile Langeni, Presidential Investment Envoy
Listen below to the full conversation: