Propelled by the success of the South Africa Investment Conference (SAIC), President Cyril Ramaphosa has set a R2 trillion target for South Africa to achieve over the next five years.
The conference was attended by delegates from varying industries in South Africa and across the world at the Sandton Convention Centre in Johannesburg recently.
It saw investments announced in the digital economy, manufacturing sector and the Special Economic Zones (SEZs) which are expectedInvestment to pave the way for job creation and economic growth.
The pledges cover 21 district municipalities across the country.
“A number of these investments aren’t only bringing much-needed economic activity to these localities; they are also supporting our overall national development goals,” President Ramaphosa says.
South Africa had reached R1.51 trillion in pledges, overshooting the initial R1.2 trillion target by 26%.
Pledges in the digital economy
Equinix pledged R3.8 billion to developing new data centres in South Africa.
Teraco made their fourth announcement this year, investing a further R2 billion to expand their data centre capacity and developing renewable energy projects to supply their data centres in Gauteng, the Western Cape and KwaZulu-Natal.
Cassava Technologies will be investing R4.5 billion towards adding 20 Megawatts to their data centre in Gauteng and the Western Cape.
Scensos pledged R80 million in a call centre in the Western Cape.
Moov, a fintech start up, will be investing R284 million in connecting mobility entrepreneurs to the right hailing e-logistics and e-delivery market place.
SA Taxi will be investing R500 million to providing financing to underserved and developing small, micro and medium enterprises (SMMEs).
Rain will be investing R4 billion in the further rollout of 5G infrastructure across South Africa.
Telkom made their fourth announcement by investing R5.97 billion in Information and Communication Technologies (ICT) infrastructure development across South Africa.
Topping their R50 billion pledge at the inaugural 2018 investment conference, Vodacom committed to invest R60 billion in ICT infrastructure.