South African President Cyril Ramaphosa launched a nearly $200 billion investment campaign aimed at accelerating economic recovery and industrialization amid growing concern over the impact of the Iran war on the continent's largest economy.
For more than a decade, South Africa's economy… barely grew upLeaving it with crumbling infrastructure and the need to create jobs in a country where one in three people is unemployed. Ramaphosa told investors in Johannesburg this week that South Africa had fixed the worst of the hurdles: He said the country was opening up key sectors to private capital and was ready for large-scale investment.
Ramaphosa said the effort would last until 2030, with delegates at the South African Investment Conference pledging $53 billion across 31 projects spanning energy, logistics, manufacturing and digital infrastructure. they include Coca-Cola's $1 billion expansion planand a $3.6 billion commitment from Sasol – the world's largest producer of coal fuels – to upgrade operations.