Zikalala – South Africa a Favourable Destination for Investments

Sihle Zikalala, the Public Works and Infrastructure Minister, has been actively reassuring investors that South Africa offers a conducive environment for investment, with policies and structures designed to facilitate business operations.

SANews reports that during his official working visit to the United Kingdom, Zikalala led a delegation on a mission to promote South Africa as a preferred destination for infrastructure investments. He has addressed a gathering of over 500 global investors in London, emphasising South Africa’s commitment to facilitating business activities.

Zikalala has conveyed to investors that South Africa is focused on economic growth and stability, offering an environment that eliminates bureaucratic obstacles, promotes financial stability, and upholds the rule of law.

In his address, Zikalala presented various infrastructure investment opportunities, covering energy, water, transport, and digital infrastructure.

He also highlighted that President Cyril Ramaphosa is leading efforts to ensure a corruption-free government that honours agreements and contracts with investors. Zikalala underlined the commitment to ethics and transparency in the investor environment, assuring investors that their investments are safeguarded.

Also read: Investment in Africa Urged by President Ramaphosa

Despite challenges like load shedding, South Africa’s economy remains resilient and actively pursues reforms, especially in financing significant infrastructure projects. Public-private partnerships are being promoted, with the government collaborating with the private sector to enhance project delivery and management.

During the session in the UK, Zikalala responded to questions about transformation policies such as Broad-Based Black Economic Empowerment (BBBEE), localisation, and the Public Finance Management Act (PFMA, addressing concerns about bureaucratic hurdles and their impact on investor confidence.

He emphasised that these policies are crucial for addressing economic disparities rooted in South Africa’s history, seeking to create an economic landscape that includes a broader population segment.

Zikalala invited investors to explore the numerous opportunities for infrastructure investments in South Africa. He highlighted key investment platforms like the Presidential Infrastructure Investment Summit 2024 and the South Africa Construction Week conference. He believes the Global Africa Trade Conference presents an opportunity to rejuvenate South Africa’s economy in the post-COVID-19 era.

Zikalala is optimistic about the future of economic partnerships and will continue visiting the UK until Friday.

Also read:

South Africa Retains Its Status as Africa’s Preferred Investment Destination

Picture: X / SAgovnews

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