Source: South Africa News Agency
The first leg of the two-day South Africa Investment Conference will get underway this afternoon at the Sandton Convention Centre.
The conference, which is in its third year, aims to attract R1.2 trillion in investments. Since 2018, the conference has secured over R650 billion of investment as leaders from business, government, and the investment community forged relationships and explored ways to reignite growth in South Africa.
The 2020 instalment of the Investment Conference comes as countries around the world continue to battle the COVID-19 pandemic with little funds to spare.
The first day of the conference will kick off with sector panel discussions on building and implementing South Africa’s energy plan, small business growth opportunities, land reform and unlocking agricultural value chains, infrastructure investment, mining and ICT and digital opportunities.
In line with COVID-19 protocols, the annual conference will largely be a virtual conference with a limited number of delegates attending in person.
The conference will prioritise the country’s recovery from the pandemic and punt the Economic Reconstruction and Recovery Plan recently announced by President Cyril Ramaphosa.
South Africa will use the conference to provide a platform to showcase growth, and investment prospects in an economy with vast potential and abundant resources.
Investors will be afforded the unique opportunity to engage with government representatives on the progress toward political and economic renewal, strengthening the credibility of public institutions and unlocking the latent potential and innovative spirit of South Africa’s economy.
A key investment opportunity set to take centre stage at the conference is the Africa Continental Free Trade Area (AfCFTA).
The AfCFTA agreement will create the largest free trade area in the world measured by the number of countries participating. The pact connects 1.3 billion people across 55 countries, with a combined Gross Domestic Product (GDP) valued at R7 trillion.
With the opportunity that the AfCTA provides, investors have an opportunity to participate in the untapped potential of an integrated continent.
AfCTA allows for African countries to work together in a trade tariff-free environment, making Africa a dynamic force in the international arena. The three biggest economies on the continent have added their combined economic might to the AfCTA with the intention to stimulate Africans to invest in Africa and boost intra-continental trade. – SAnews.gov.za