photo: Deputy President Cyril Ramaphosa
Ramaphosa is leading Team South Africa – made up of government, business and civil society leaders – at WEF Africa, which this year is being held under the theme “Connecting Africa’s resources through digital transformation”.
Ramaphosa and his delegation reassured investors at the forum that South Africa is a preferred investment destination, and open for business. he was speaking at a session on how innovative partnerships can bridge financing gaps for economic and social infrastructure.
“Infrastructure has been a key economic driver in South Africa and in the region,” Ramaphosa said during the session on Thursday 12 May. In South Africa, he added, the coordination of infrastructure development through the Presidential Infrastructure Coordinating Commission had “paid great dividends”.
“Investment in infrastructure has stimulated economic activity. Therefore, there are returns to be made for investors in infrastructure in South Africa and Africa.
“Infrastructure is better done when approached at a regional level, because our countries are inter-linked through the movement of people and trade.”
Ramaphosa added that South Africa had found innovative ways of partnering with the private sector, especially in energy. This had opened new opportunities for private sector investment.
He also encouraged investment in connectivity through technology and digital solutions, saying that this should be a priority for African economies.
