President Cyril Ramaphosa says government has received an undertaking of investment of more than R400 billion over the next five years by Chief Executive Officers of State Owned Enterprises.
Ramaphosa replied to criticism from opposition parties on his budget vote that he had delivered in the National Assembly on Wednesday. He says this is a result of government’s massive investment drive locally and abroad.
“This is about addressing what can create jobs. Several meetings with CEOs of largest State Owned Enterprises where they have given us an indication of their investment plans over the coming years. They have informed us that over the next five years they expect to invest a total R420 billion in the SA economy.”