South African president takes steps to intensify investment

0 Comment(s)Print E-mail Xinhua, November 5, 2019
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CAPE TOWN, Nov. 4 (Xinhua) -- South African President Cyril Ramaphosa has taken steps to intensify investment in the country by appointing special envoys on investment and establishing an investment and infrastructure office, presidential spokesperson Khusela Diko said Monday.

The newly appointed special envoys, including former Energy Minister Jeff Radebe and former Tourism Minister Derek Hanekom, will undertake overseas missions targeting specific areas, Diko said.

Radebe will promote investment in the energy sector, focusing on oil and gas, and Hanekom is tasked with investment mobilization in the tourism sector, according to Diko.

The investment and infrastructure office will enable the presidency to oversee coordination between all institutions dealing with infrastructure development and thus address blockages in priority infrastructure projects, the spokesperson said.

The decisions came as Ramaphosa will host the second South Africa Investment Conference from Tuesday to Thursday in Johannesburg to attract investment.

The conference, launched by Ramaphosa last year, is expected to showcase investment opportunities in the country with an aim to attract 1.2 trillion rands (about 81 billion U.S. dollars) in investment by 2023. Enditem

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