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R133 billion in investments announced for SA

Multi­na­tion­al and local busi­ness­es have arrived at the sec­ond South African Invest­ment Con­fer­ence bear­ing gifts that will tin­gle the country’s invest­ment prospects.

Heed­ing Pres­i­dent Cyril Ramaphosa’s call and reas­sur­ance that South Africa was open for busi­ness, sev­er­al com­pa­nies this morn­ing took turns to avail a com­bined R133 bil­lion to be ploughed into the country’s stag­nant econ­o­my.

The fig­ure adds to the R300 bil­lion invest­ments announced at last year’s first SA Invest­ment Con­fer­ence, in which the Pres­i­dent announced his inten­tion to attract R1.2 tril­lion over five years. More invest­ments are expect­ed before the close of today.

Short­ly after Pres­i­dent Ramaphosa’s address this morn­ing, busi­ness­es took turns at the podi­um announc­ing invest­ments.

First on stage was B Braun, a Ger­man med­ical and phar­ma­ceu­ti­cal device com­pa­ny, pledg­ing to invest R300 mil­lion on a green­fields plant. Jens Pap­peritz from the com­pa­ny said the project was at an advanced stage.

“The fac­to­ry is quite high up and we expect to go online ear­ly next year. This plant will cre­ate hun­dreds of direct jobs and will cre­ate sig­nif­i­cant oppor­tu­ni­ties for export,” he said.

He added that 80% of the plant’s con­tent will be sourced and built local­ly

Not to be out­done, the world’s largest dis­solv­ing pulp pro­duc­er, Sap­pi, announced it would spend R14 bil­lion on its var­i­ous plants across the coun­try. This invest­ment was above the R7.7 bil­lion invest­ment in Umko­maas, in KwaZu­lu-Natal, announced at the inau­gur­al South African Invest­ment Con­fer­ence.

 

“We have made great progress – at about 40% — and expect to com­plete at around Sep­tem­ber next year. This year, we want to make a com­mit­ment that over the next five years, Sap­pi will com­mit a fur­ther R14 bil­lion in our four plants across South Africa,” said Steve Bin­nie, the company’s CEO.

New indus­try entrant Dis­cov­ery Bank soon fol­lowed suit, announc­ing it would be invest­ing R1.4 bil­lion on its ven­ture.

Led by Ambas­sador Norio Maruya­ma, the Japan-SA Busi­ness Forum com­mit­ted to invest R20 bil­lion over three years through­out Africa. Last year, Japan­ese com­pa­nies made invest­ment com­mit­ments of R6.8 bil­lion to help build pro­duc­tive capac­i­ty and sup­port for­eign direct invest­ment.

Tim Abbott, Man­ag­ing Direc­tor of BMW South Africa, speak­ing on behalf of the Nation­al Asso­ci­a­tion of Auto­mo­bile Man­u­fac­tur­ers of South Africa (NAAMSA), announced a R6 bil­lion 10 year Auto­mo­tive Trans­for­ma­tion Fund, an ini­tia­tive between the organ­i­sa­tion and the Depart­ment of Trade and Indus­try.

“This is on top of the R14 bil­lion we have already pledged. The Fund is designed to sup­port the par­tic­i­pa­tion of the Black and his­tor­i­cal dis­ad­van­taged peo­ple and com­mu­ni­ties in the auto­mo­tive indus­try. This will result in more jobs in South Africa – and obvi­ous­ly trans­for­ma­tion.”

MTN CEO Rob Shuter announced that the com­pa­ny would invest R10 bil­lion a year over the next five years.

Oth­er invest­ments announced this morn­ing includ­ed:

  • Toy­ota (R2.43 bil­lion)
  • VM Auto­mo­bile (R426 mil­lion)
  • Agri­cul­tur­al Devel­op­men­tal Agency (R12.9 bil­lion)
  • Ren­er­gen (R700 mil­lion)
  • New Devel­op­ment Bank (R23 bil­lion)
  • Transnet (R22 bil­lion)

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