Ramaphosa Lifts Investment Target to R3 Trillion as Reforms Drive Growth

President Cyril Ramaphosa says structural reforms in the electricity and logistics sectors have contributed to increased investment in South Africa.

He says nearly R900 billion of the R2 trillion investment target has already been secured.

The Context

Ramaphosa was speaking at the South African Investment Conference in Sandton, Johannesburg.

“As we have done with the electricity sector, we are driving a series of reforms in the logistics sector to build a world-class rail network and ports that are efficient, competitive and support our exports.”

“The cornerstone of our reform programme is the National Rail Policy of 2022 , complemented by the National Freight Logistics Roadmap of 2023. These policies enable private investment in port and rail operations.”

Job Creation

Government has also announced investments in energy, tourism, manufacturing, and digital sectors, which are expected to create more than 200,000 jobs.

The New Target

In his closing address, Ramaphosa raised the investment target.

“We are now at the first year of this long journey that we started at R2 trillion, but tonight I’m changing the target. As president I’m changing the target from R2 trillion to R3 trillion , that is the new target now.”

“I’m glad that my ministers are applauding more. It means that they have a new mandate and the new mandate is that we must now go for R3 trillion and not R2 trillion anymore, so the target has changed.”

The Bottom Line

R2 trillion was the goal. R900 billion is already in. Now the bar is R3 trillion.

Reforms are driving growth. Jobs are being created. And the president is aiming higher.

{Source: SABC NEws}

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