13 May 2016
Positive returns on investment are almost guaranteed in the infrastructure and ICT sectors in South Africa, and elsewhere on the continent, Deputy President Cyril Ramaphosa told potential investors at the World Economic Forum on Africa in Kigali, Rwanda.
Ramaphosa was speaking at a session on how innovative partnerships can bridge financing gaps for economic and social infrastructure. He is leading Team South Africa – made up of government, business and civil society leaders – at WEF Africa, which this year is being held under the theme “Connecting Africa’s resources through digital transformation”.
Ramaphosa and his delegation reassured investors at the forum that South Africa is a preferred investment destination, and open for business.
“Infrastructure has been a key economic driver in South Africa and in the region,” Ramaphosa said during the session on Thursday 12 May. In South Africa, he added, the coordination of infrastructure development through the Presidential Infrastructure Coordinating Commission had “paid great dividends”.
“Investment in infrastructure has stimulated economic activity. Therefore, there are returns to be made for investors in infrastructure in South Africa and Africa.
“Infrastructure is better done when approached at a regional level, because our countries are inter-linked through the movement of people and trade.”
Watch Deputy President Cyril Ramaphosa discussing infrastructure at WEF Africa:
Ramaphosa added that South Africa had found innovative ways of partnering with the private sector, especially in energy. This had opened new opportunities for private sector investment.
He also encouraged investment in connectivity through technology and digital solutions, saying that this should be a priority for African economies.
Watch the full Investing in Infrastructure session at WEF Africa:
On the final day of WEF Africa, Friday 13 May, Ramaphosa is to take part in a high-level breakfast on the Internet for All Initiative, a project to develop new scalable and replicable models of public-private collaboration in order to accelerate internet access globally.
In this session, leaders from governments and multilateral organisations and business will discuss the progress of the first country pilot programme in the Northern Corridor, and set out the next steps.
Team South Africa includes Ministers Pravin Gordhan, Rob Davies, Siyabonga Cwele, Ebrahim Patel and Jeff Radebe. The business delegation includes Eskom, the Industrial Development Corporation, Old Mutual, ArcelorMittal and Business Unity South Africa.