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“Covid-19: The two richest South African families – Oppenheimer and Rupert – will each donate R1 billion to the National Government’s Solidarity Fund to support small business and their employees during the coronavirus pandemic. Together, Nicky Oppenheimer and Johann Rupert, according to the Bloomberg Billionaire’s Index, are worth almost R200 billion”. – Business Insider
NATIONAL INVESTMENT CONFERENCE: PROJECTS WORTH BILLIONS TO
ROLL-OUT IN KWAZULU-NATAL
FACT
More than R20 billion in investments was pledged for KwaZulu- Natal during the second South Africa Investment Conference led by President Cyril Ramaphosa. Of the 70 pledges made during the conference, 15 were for the province and almost half of these pledges were from international investors.
Trade & Investment KwaZulu-Natal and many of its clients were among the more than 1 000 delegates at the investment conference.
“The importance of the pledges is to show that South African companies are keen to reinvest in the country, which resonates positively with potential investors looking to set up business here. Potential investors always ask themselves why local companies are not investing, so those pledges go a long way to showing the confidence industry has in our economy,” says Neville Matjie TIKZN, Chief Executive Officer.
He says that what is positive about this event is that the highest level of leadership in the country is indicating that South Africa is ready for business.
“The president and all government ministers and directors general were present and available for discussions the entire day, which is very critical for investors and is commended. By being able to speak to ministers and their directors general, we were able to resolve bottlenecks and a get lot of projects through the value chain. One big project that we were facilitating for Richards Bay had stalled, because some legislation was “grey” in areas. Through the investor being able to discuss the project with the relevant minister and his office, they found an alternative solution.”
As an investment and trade facilitation agency, TIKZN is approaching those companies that are investing the province, which are not clients. They want to ensure that they know what these investors are going through and, in the event of a hurdle, offer assistance in rolling out the investments.
In his closing remarks, President Cyril Ramaphosa said: “We are immensely encouraged by the commitments that have been announced here, for it is these investments that will have the effect of boosting our country’s economic growth and create much-needed jobs. I know that companies that made announcements here are ready to move ahead with a renewed sense of determination to turn the investment commitments made here into new business, new jobs and new opportunities.”
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