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South Africa’s President Ramaphosa tasks envoys with raising 100 billion dollars

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South African President Cyril Ramaphosa has appointed special envoys on investment to lead his investment promotion drive, aimed at raising 100 billion dollars for the country’s development.

The envoys are former ministers Jeff Radebe and Derek Hanekom, and former deputy minister Elizabeth Thabethe, who will lead the newly-established Investment and Infrastructure Office in the presidency, the high office said on Tuesday, 5 November 2019.

According to the presidency, Radebe will drive investment promotion in the energy sector — focusing on oil and gas, while Hanekom and Thabethe will mobilise investment in the tourism sector.

In the set-up, former Gauteng Province’s Minister for Economic Development, Kgosientso Ramokgopa, will head the Investment and Infrastructure Office as its administrator.

The appointments coincide with the country’s second South African Investment Conference being held in Sandton (suburb of Johannesburg) from Tuesday, 5 November to Thursday, 7 November 2019.

With this new set up, the Investment and Infrastructure Office is expected to lead the national investment drive and ensure optimal use of the resources of the infrastructure fund, the presidency said.

“The office will be responsible for developing the country’s investment strategy, refining the institutional infrastructure for investment mobilisation, and establishing an investment intelligence capability,” the high office added.

– APA

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