Pretoria – A South African delegation attending the annual World Economic Forum (WEF) Africa will promote South Africa as open to business and a preferred destination for investments.
“The delegation will utilise the opportunity of the various platforms provided by the Forum to communicate to regional and international investors a positive message that South Africa’s macro-economic environment remains resilient – with a dynamic and stable economy underpinned by solid economic fundamentals,” the Presidency said on Monday.
Deputy President Cyril Ramaphosa will on Wednesday lead the high-level government and business delegation to the annual forum in Rwanda’s capital Kigali. It will be convened under the theme “Connecting Africa’s Resources through Digital Transformation”.
The forum is expected to be attended by regional and global leaders from business, government and civil society focusing on how the digital economy can act as a catalyst to drive radical structural transformation, strengthen public-private collaboration on key global and regional challenges, and agree on strategic actions that can deliver shared prosperity across the continent.
In pursuit of their objective, Team South Africa will also reiterate to the international community the country’s commitment to the full implementation of the National Development Plan (NDP) as a cornerstone of the economy.
“South Africa will underline its commitment to attracting investments not only to the country but to the SADC region and indeed the entire African continent as part of advancing the objectives of the continent’s Agenda 2063.”
According to the World Economic Forum, “Africa’s positive economic outlook is under pressure – mainly due to adverse changes in the global economy – and is expected to remain just below 5% in 2016.”
As many countries in the region improve their investment climate and undertake macroeconomic policy reforms, foreign direct investment flows are expected to continue to grow, although at a slower pace.
The South Africa delegation will include Ministers of Finance, Pravin Gordhan, Trade and Industry Rob Davies, Post and Telecommunications Siyabonga Cwele and Minister in the Presidency, Jeff Radebe.
The business delegation will comprise representatives from Eskom, the Industrial Development Corporation, Old Mutual and AcelorMittal, among others.