Cyril Ramaphosa Investment Conference

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Investment Conference total: Here’s how many jobs R363bn can create

If Cyril Ramaphosa’s words are true, South Africa’s second Investment Conference could help alleviate the growing unemployment crisis in Mzansi.

Cyril Ramaphosa Investment Conference

PresidencyZA / Twitter

Could this finally be the key to start the ignition of South Africa’s economy? Cyril Ramaphosa’s much-championed Investment Conference has come to a conclusion, after raising hundreds of billions of rand from investors based both overseas and at home.

The primary objective for the summit is to find a way to create employment opportunities. South Africa is languishing in its worst unemployment crisis for 11 years, and more than 10 million people of working age are struggling to find jobs. This is an epidemic that needs urgent treatment, and a cash injection of R363 billion – potentially rising to R371 billion – could prove to be the perfect remedy.

Cyril Ramaphosa revels in investment totals

That’s how much money Cyril Ramaphosa claims the Investment Conference has raised. During his closing remarks at the ceremony, he revealed that the event managed to raise 17% more funds than last year’s indaba. Ramaphosa has hailed this as an “outstanding achievement” which will stimulate economic growth:

“The total value of investment commitments made today at our second South African Investment Conference is R363 billion. It is a sign of confidence in the future of our country and the belief that the South African economy is poised for growth going into the future.”

“This does not include the hundreds of thousands of indirect jobs that will be created through allied linkages to these investments. This commitment of investments amounting to R371 billion if you add the R8 billion that is still subject to regulatory and board approval processes is 17% higher than the commitments that were made last year.” 

“This is an outstanding achievement and reflects the determination of those companies and associations that have made commitments to invest or further invest in our economy. This is a clear vote of confidence in the South African economy and a response to what it can offer.”

Cyril Ramaphosa on the Investment Conference 2019

How many jobs will the Investment Conference create?

So, in real terms, how does this cash actually translate into action? Cyril has embarked on several investment drives over the past 18 months or so, and neither the economy nor the jobs market have seen significant progress. But, according to the president, the billions raised could transform employment opportunities in Mzansi:

  • Ramaphosa forecasts that 412 000 jobs will be created through this Investment Conference over the next five years.
  • That equates to 82 400 new jobs per year, from now until 2024.
  • The president also claims that facilitating this investment drive – from its inception in 2018 to present day – has directly resulted in the creation of 16 000 jobs, too.