'These investments are not fluff, this is actual money that has been pledged'

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.

RELATED:'President's progress report at investment summit shows government's commitment'

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:


Recommended

by NEWSROOM AI
Read More
Golf legend Gary Player says he's proud of Sun City golf course he helped create

Golf legend Gary Player says he's proud of Sun City golf course he helped create

Golf legend Gary Player says Sun International created 5000 jobs through Nedbank Golf Challenge, currently underway in Sun City.

[WATCH] Man forgets to engage handbrake, truck almost hits other cars

[WATCH] Man forgets to engage handbrake, truck almost hits other cars

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Adorable video of dads joining daughters' ballet class goes viral

[WATCH] Adorable video of dads joining daughters' ballet class goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

We have bent over backwards, it appears unions don't want to settle - SAA

We have bent over backwards, it appears unions don't want to settle - SAA

Sacca president, Zazi Nsibanyoni-Anyiam Mugambi and airlines acting CFO Deon Fredricks weigh in on the strike facing the airline.

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

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

The inaugural investment conference held last year raised R290bn in investment commitments.

Africa is uniquely poised for an electronic payment revolution

Africa is uniquely poised for an electronic payment revolution

Companies that design simple user interfaces and create large networks will dominate, says Absa Corporate and Investment Banking.

Popular articles
SAA doesn't have cash flow to pay unions what they want, says airline exec

SAA doesn't have cash flow to pay unions what they want, says airline exec

Thousands of SAA workers, including cabin crew, technical and ground staff, began striking on Friday to demand higher pay.

Karatbars – is it a scam? The case for and against…

Karatbars – is it a scam? The case for and against…

Bruce Whitfield interviews senior Karatbars representatives, a financial advisor and someone who was invited to its conference.

Can’t find your phone? Drop everything – thieves can get into your banking app!

Can’t find your phone? Drop everything – thieves can get into your banking app!

Did someone steal your phone? Contact your bank without hesitation warns consumer journalist Wendy Knowler.

'Unions are making a mistake. SAA is dying. It’s not Eskom – we don’t need it'

'Unions are making a mistake. SAA is dying. It’s not Eskom – we don’t need it'

SAA is on its knees, cap in hand, asking taxpayers for R2 billion this month. Unions must be careful, warns Guy Leitch (SA Flyer).

White pupils at posh Kingswood College refer to black scholars as 'snoobab'

White pupils at posh Kingswood College refer to black scholars as 'snoobab'

"This problem is bigger than just a Kingswood problem. The relevant processes will unfold," says College Head Colleen Vassiliou.

Investors need to understand redress and sensitivities, says Eusebius

Investors need to understand redress and sensitivities, says Eusebius

Eusebius engages callers on the Richard Branson tweet that has been widely criticised for lacking diversity.

[WATCH] 'I didn't poop, I peed,' kid excited that he went potty successfully

[WATCH] 'I didn't poop, I peed,' kid excited that he went potty successfully

Khabazela shares tweets and Facebook posts that have gone viral.