South Africa draws the attention of the investment community, the Country is now open for economic activity and business opportunities.
The government finally opened up the economy by further easing the restrictive measures related to Covid-19.
Lymph for the tourism and hospitality sectors
President Cyril Ramaphosa announced that the economy was returning to full operation as fewer people were becoming severely ill and requiring hospitalization, due to the 60 to 80% of the population having some form of immunity.
Easing the reminder of the lockdown restrictions means allowing large gatherings and relaxing Covid regulations for travellers.
A result and a statement that were roundly applauded by the business community. Especially by the tourism and hospitality sectors, severely affected by lockdowns and restrictions.
The fourth annual South African Investment Conference
Moreover, investors passed a big vote of confidence in South Africa’s recovery, despite the loss of 2 million jobs from the pandemic. And they pledged to invest in a variety of projects in the Country.
The confirmation comes from the fourth annual South African Investment Conference that raised a further R332 billion from 80 investment pledges.
Objectives and timing
This operation has now taken the total level of investment pledged at the four Investment Conference to R1.14 trillion. Meaning that the government has reached 95% of its target with one year left to go.
And expectations, as President Ramaphosa pointed out, are not limited to reaching the target, but to exceeding it.
The contribution of the African Development Bank
In addition, the African Development Bank pledged a R41.3bn package for the country over the next five years. The bank is working with international partners, especially the G7 countries, to establish a just energy transition facility that will support South Africa in raising at least $27bn.
The panorama therefore suggests important news, despite the inevitable increase in prices that is affecting the whole world. Still, it is a great opportunity to generate thousands of green jobs and power new sustainable industries for a more competitive economy.