South Africa will host its fifth South Africa Investment Conference (SAIC) on 13 April 2023 in Johannesburg. This conference is the final leg of our current investment drive to attract R1.2 trillion over five years.
The SAIC attracts delegates spread from South Africa and the rest of the globe. Last year, the 4th SAIC raised R367 billion in investment commitments, bringing our five-year investment target firmly into sight. Since the first investment conference in 2018, South Africa has attracted R1, 14 trillion in commitments. This represents 95 per cent of our initial target and has translated into investments across a wide range of economic sectors.
Of the 152 investment announcements made previously, 45 projects have already been completed, while a further 57 projects are currently under construction. These investments have resulted in new factories, call centre, solar power plants, undersea fibre optic cables, expansion of production lines and adoption of new technologies.
Importantly, the new investments also significantly contribute to our national goals of socio-economic development as we create sustainable jobs, reduce poverty and drive back inequality. These investments have also contributed to a substantial increase in local production and encouraged efforts to buy local.
The 2023 SAIC takes place as the country deals with a constrained energy supply that has resulted in persistent load shedding. In response to our energy challenges, government through the Energy Action Plan has announced several interventions to turnaround the situation.