After less than two months as president, Cyril Ramaphosa strapped on his boots and was ready to get to work and revive the South African economy. He set out a plan to attract $100-billion worth of investments. And in just a matter of six months, the presidency has managed to surpass the halfway mark.
Here’s how the the master plan has paid off so far:
April: Ramaphosa announces 5-year investment plan and deploys a special envoy
To drive foreign investment to South Africa following a R58,4-billion decline under the Zuma presidency, Ramaphosa announces that an investment conference aimed at attracting $100-billion will take place later in the year.
He set up a special teams to travel across the world in search for $100-billion in investment from the public and private sectors. The team is led by former minister of finance Trevor Manuel, alongside former deputy minister Mcebisi Jonas, Afropulse executive chairperson Phumzile Langeni and chairman of Liberty Group Jacko Maree as well as the president’s economic advisor, Trudi Makhaya. The team is expected to visit Asia, Europe and the Americas in search for investment opportunities.
April: South Africa lands £50-million investment from UK
During his first state visit to the UK, Ramaphosa sealed a deal with Prime Minister Theresa May to tighten the business relations between the UK and SA.