SA can expect significant investments: Ramaphosa

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President Cyril Ramaphosa delivering the keynote address at the welcome dinner preceding the inaugural session of the African Development Bank’s Africa Investment Forum.

GCIS

JOHANNESBURG - South Africa can expect a significant portion of the envisaged $28-billion worth of investment deals secured at the Africa Investment Forum.

That's the promise from President Cyril as day two of the Africa Investment Forum kicked off.

Ramaphosa has also emphasised the need to resolve the problems keeping investors away from the continent.

He said an investment boost in Africa will serve as a shot in the arm for the local economy.

"May the deals be concluded, may we all be part of the deals that are going to be concluded here," he said.

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Ramaphosa said exporting to a more economically active continent will be good for manufacturers and jobs but he also expects South Africa to get a slice of the investment commitments.

"We also expect a couple of those $28-billion to come to South Africa. So it depends on how the deals are going to be concluded. As we said South Africa is also open for investments and we are riding a wonderful wave of good investment flow into the country," said Ramaphosa.

One of the big-hitters at the Investment Forum is Africa’s wealthiest man, Nigerian business tycoon Aliko Dangote.

"Why are we even investing in Africa? First of all if you look at it today, 6 out of 10 fast-growing economies are in Africa and in the next ten to 15-years Africa offers more opportunity than any continent, whether you like it or not that’s what it is," Dangote said.

A mega-deal has already been signed - South Africa’s Thelo Group has partnered with German rail operators, DB Engineering, to introduce efficient railways on the continent.  

The forum wraps up on Friday and will see the remaining deals, which are made behind closed doors here, made public.