South Africa is committed to increasing levels of investment in the Madagascan economy, according to the acting CEO of Trade Invest South Africa (Tisa), Lerato Mataboge.
“The only hope for realising the ‘Africa Rising’ narrative lies in ensuring that Africans invest in each other’s economies for the transformation, participation and economic participation and economic emancipation of its people,” she said.
This declaration followed a statement made at the Madagascar Investor’s Conference in Pretoria last week by president, Hery Rajaonarimampianina. He urged South African businesses to invest in the country, noting that the country had recently come out of political instability and needed to create jobs and sustainable development as well as to change Madagascar’s growth trajectory.
Rajaonarimampianina pointed to larger sectors – such as mining and textiles – as potential investment areas as they require ports, roads and railways in which more SA businesses could invest.
The conference, which included business-to-business meetings between businesspeople from each country, will conclude on Thursday, June 22.
