President Cyril Ramaphosa conceded that South Africa still has a significant distance to travel before investment levels return to what is needed to stimulate sustained economic expansion.
President Cyril Ramaphosa has defended South Africa’s investment drive, acknowledging that turning investment pledges into meaningful economic growth and jobs remains a difficult and long-term process.
In his weekly newsletter on Monday, Ramaphosa pushed back against criticism that the country’s investment conferences and summits are merely symbolic events, insisting they are beginning to produce tangible economic activity despite persistent economic headwinds.
Ramaphosa said investment was “a long-term commitment” and warned that moving from announcements and pledges to actual implementation, growth and employment creation takes years, particularly in capital-intensive sectors such as mining, energy and infrastructure.
“Investment is a long-term commitment. Moving from pledges to large-scale growth and employment creation takes time, particularly in sectors where projects take years to reach implementation,” Ramaphosa said.
