Johannesburg, March 31 South African President Cyril Ramaphosa announced an ambitious initiative to attract investment of around USD 60 million over the next two years at the 6th edition of the annual South Africa Investment Conference in Johannesburg on Tuesday.
"Investment conferences such as this provide an opportunity for us to showcase the attractiveness of investment opportunities in our country to domestic and international investors. By connecting investors with local opportunities, we are able to attract foreign direct investment (FDI)," Ramaphosa told more than 1,000 delegates from 50 countries as he opened the conference.
Since launching the investment drive in 2018, Ramaphosa has built his economic narrative around a central figure of 1.2 trillion South African rand in targeted investment over five years.
That original goal was exceeded by 2026, as over 1.5 trillion rand in investment pledges had been secured across successive conferences.
However, analysts pointed out that of the 1.5 trillion rand committed, just over 600 billion rand to 628 billion rand has actually been invested into the economy so far, suggesting that less than half of pledged investments have translated into real economic activity. This highlighted the persistent lag between announcements and implementation.
Ramaphosa implicitly acknowledged this gap in his speech by emphasising a strategic shift.
"The 2026 conference marks a transition from high-level planning to a focused phase of delivery," he said.
Ramaphosa has now set a new, more ambitious target of 2 trillion rand in new investment commitments by 2028.
To reinforce confidence, Ramaphosa highlighted several indicators of economic improvement. These included four consecutive quarters of economic growth, stabilising national debt, and a modest recovery in employment.
The President also highlighted structural reforms, especially in the energy and logistics sectors, which have hindered investment in recent years.
To further counter investor scepticism, Ramaphosa cited examples such as mining and automotive investments that have moved from commitment to execution and are now creating jobs.
The president highlighted sectors for investment, including manufacturing, mining beneficiation, digital infrastructure, agriculture, and green industrialisation.
Ramaphosa concluded with a plea for investments to deliver measurable benefits for South Africans.
"Investment projects must include clear local content plans, formal skills transfer initiatives, community development commitments, and transparent environmental safeguards," he said.