The first leg of a two-day South Africa Investment Conference will get under way this afternoon at the Sandton Convention Centre.
Now in its third year, the event aims to attract R1.2 trillion in investments. Since 2018, the conference has secured more than R650 billion as leaders from business, government and the investment community have forged relationships and explored ways to reignite growth in South Africa.
The 2020 instalment of the conference comes as countries around the world continue to battle the Covid-19 pandemic with little funds to spare.
The first day 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 virtual with a limited number of delegates attending in person.
It 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 event to showcase growth and investment prospects in an economy with vast potential and abundant resources.
Investors will be able to engage with government representatives on the progress toward political and economic renewal, strengthening the credibility of public institutions, and unlocking the latent potential of South Africa’s economy.
A key investment opportunity set to take centre stage is the Africa Continental Free Trade Area (AfCFTA).
The 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 AfCFTA provides, investors have an opportunity to participate in the untapped potential of an integrated continent.
AfCFTA allows African countries to work together in a trade tariff-free environment. The three biggest economies on the continent have added their combined economic might to the AfCFTA with the intention of encouraging Africans to invest in Africa and boost intra-continental trade.
- SAnews.gov.za