Speaking at the 2nd Africa Investment Forum (AIF) in Johannesburg on Monday, President Cyril Ramaphosa said much of the economic progress over the past few years had been made possible by developments in the political sphere.
Ramaphosa said the interest that the forum had garnered was a clear indication that the international investor community was optimistic about Africa’s prospects, excited by its potential, and wanted to be part of its success. “Global investor surveys consistently highlight political stability and security as important considerations for committing capital,” he said.
“Every election that passes peacefully and that reflects the will of the people is another step towards the attainment of the African Union’s vision of an Africa at peace with itself. It challenges the notion that Africa is unstable and a risky place to invest.”
South Africa is targeting investments totalling $10 billion (R148.33bn) in the AIF after securing R363bn investment pledges during the 2nd SA Investment Conference last week. One of 50 deals signed yesterday was a €1 billion (R16.34bn) investment by the European Investment Bank into a gender-lending programme and new agriculture telecom trade insurance engagement across Africa.