Ahead of the South Africa Investment Conference in Sandton from 5 to 7 November, President Cyril Ramaphosa has appointed additional special envoys on investment and established a dedicated investment and infrastructure office in the Presidency.
Ramaphosa has appointed Jeff Radebe, Derek Hanekom and Elizabeth Thabethe as new special envoys on investment targeting specific areas to strengthen the capacity of four special envoys he appointed in April 2018 to promote South Africa as an investment destination.
This included facilitating resolution of administrative hurdles to investment and engaging both domestic and foreign investors on the opportunities that exist in the country.
Since their appointment, the envoys have been instrumental in mobilising investments announced at the inaugural Investment conference in 2018, resolving challenges for different companies and addressing investor concerns on a number of key policy areas.
Radebe will drive investment promotion in the energy sector, focusing on oil and gas, Hanekom and Thabethe will both be responsible for investment mobilisation in the tourism sector.
Through the investment and infrastructure office, to be headed by former Gauteng MEC for economic development, Dr Kgosientso Ramokgopa, the Presidency will continue to lead the national investment drive and ensure optimal use of the resources of the Infrastructure Fund.
The office will be responsible for developing the country’s investment strategy, refining the institutional infrastructure for investment mobilisation, and establishing an investment intelligence capability.
The investment and infrastructure office will also enable the Presidency to oversee co-ordination between all structures dealing with infrastructure development, including the infrastructure fund, which is being incubated at the Development Bank of Southern Africa.
This will allow the Presidency to monitor progress and address blockages in priority infrastructure projects and the private sector projects identified through the investment conference.
To complete the government’s investment policy and architecture, the President will soon announce a presidential advisory council on investment.
This council will advise on government’s investment strategy and promote improved collaboration with the private sector, development partners, investment agencies and other social partners.
The council will comprise of persons with expertise in investment and development facilitation, drawn from South African, regional and international organisations and firms.
The President has expressed his gratitude to the new Special Envoys on Investment and Dr Ramokgopa for availing themselves to contribute to growing the South African economy and creating jobs for its people.