SA seeks to drive advancement of infrastructure at Africa Investment Forum
The African Development Bank Group will convene the Africa Investment Forum from 11 - 13 November 2019 in Johannesburg.Devdiscourse News Desk | Cape Town | Updated: 31-10-2019 16:24 IST | Created: 31-10-2019 16:24 IST
South Africa has an investment opportunity to tap into the capital that seeks to drive the advancement of Africa's infrastructure at the upcoming Africa Investment Forum, says Minister in the Presidency Jackson Mthembu.
"The forum brings together pension funds, sovereign wealth funds, private investors, private equity firms and heads of government. It will focus on developing and executing deals to unlock Africa's multibillion-dollar investment opportunities," the Minister said on Thursday.
"In pursuit of our stated goal of rolling out a public and private infrastructural programme, the government has set aside R100 billion over 10 years for a National Infrastructure Fund, and is looking forward to working with private investors and international financial institutions to leverage finance for our country's infrastructure development," Mthembu said.
The Minister was addressing a media briefing in Cape Town on the outcomes of the Cabinet meeting that was held on Wednesday.
South Africa Investment Conference (SAIC)
South Africa is also hosting the South Africa Investment Conference (SAIC) from the 5 - 7 November 2019 at the Sandton Convention Centre in Gauteng under the theme 'Accelerating Economic Growth by Building Partnerships'.
SAIC 2019 will build on the first SAIC held in October 2018, which attracted R300 billion in investment commitments.
"These included international e-commerce giant Amazon establishing a cloud-computing hub in South Africa; global mining company Vedanta Resources investing in a local smelter; Rwanda-based technology company, Mara Corporation, to make high-tech smartphones, and pharmaceutical company Aspen Pharmacare investing in the manufacture of sterile anesthetics.
"We join all South Africans in welcoming over 1 500 delegates representing local and international businessmen and women expected to attend the Investment Conference," Mthembu said.
On 7 November, the conference will proceed at the University of Johannesburg Soweto Campus, with a focus on entrepreneurship, innovation and growing small and medium businesses.
(With Inputs from South African Government Press Release)