South Africa’s Second Investment Conference has so far raised 24 billion dollars in new investments for the country, reports on Thursday, 7 November 2019.
Addressing the ongoing conference in Johannesburg on Thursday, 7 November 2019, Ramaphosa said the funds are 17 percent higher than the 20 billion dollars in investments made at the first conference in 2018, where he announced his country’s intention to raise some 100 billion dollars over five years.
The president was over the moon about this development, telling South Africans that the newly-announced investments are set to create 412 000 direct jobs over the next five years.
South Africa’s unemployment rate of a staggering 29.1 percent has become a hot political potato, according to Statistics South Africa.
“We are immensely encouraged as South Africans by the investment commitments made.
“We believe that these investments will boost the economic growth of the country and will create many new jobs,” an excited Ramaphosa told the conference.