South Africa’s ambitious new investment drive – which aims to raise over R1 trillion over the next five years – has already yielded funding of R875 million (£50m) from the United Kingdom.
“As we celebrate the freedoms we have achieved and the great advances we have made, let us use this Freedom Day to affirm our determination to intensify the struggle for economic freedom through radical economic transformation,” said president Cyril Ramaphosa, addressing the crowds gathered to celebrate Freedom Day at the Dr Petrus Molemela Stadium in Bloemfontein last Friday.
“As we celebrate Freedom Month, we are sending out four special envoys on investment to meet with potential investors in major centres across the world.”
He said government was using industrial incentives, special economic zones and local procurement requirements to expand the country’s manufacturing capacity.
“We are working to deracialise our economy by strengthening our broad-based black economic empowerment policies, investing in black industrialists, opening up markets for new black entrants through more effective competition policies, and using the buying power of the state to support black business,” Ramaphosa said.
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President Cyril Ramaphosa at the Freedom Day Celebrations in Bloemfontein last Friday.
