President Cyril Ramaphosa: Regulatory reforms are yielding positive results

It was as much about the numbers as the mood. Investor confidence in SA inc as an attractive investment destination was on full display at the recent 4th SA Investment Conference (SAIC) hosted by President Cyril Ramaphosa.

New investments to the value of R332 billion pledged at the conference takes the President’s haul to R1.14-trillion since he announced an ambitious goal in 2018 to raise R1.2 trillion over five years.
It’s almost certain that the President will achieve this target at next year’s investment conference.

Against the backdrop of a devastating Covid-19 pandemic, slow economic growth and an energy crisis exacerbated by Eskom’s incapacity to meet rising demand, Ramaphosa maintained an upbeat tone. “I am not here to pretend that these challenges are not real,” said the President. Ramaphosa was however quick to assure that government was doing its best to address the country’s challenges.

With this as a backdrop, the depth and quantum of these pledges – which if they materialise will flow into the most critical sectors of the economy and rejuvenate growth including in some of the most marginalised regions of the country, is encouraging to SA’s economic growth prospects.

Discovery Holdings CEO Adrian Gore – in sentiments he shared during a panel discussion with outgoing Anglo CEO Mark Cutifani and Naspers South Africa CEO Phuti Mahanyele-Dabengwa, echoed Ramaphosa’s optimism. Said Gore: “It is critical to shift the negative narrative that was pervasive in the
country. This country is more resilient than people think, and our economy is even more resilient and bigger than people give it credit for,” remarked Gore.

And the number of regulatory reforms notably in the telecoms and energy sectors recently announced by
government have added impetus to private sector led – investment. One of the single biggest investments announced came from the African Development Bank (ADB), whose president, Dr Akinwumi Adesina, noted that the ADB’s R42.5 billion pledge would primarily be allocated towards projects designed to support SA’s shift towards renewables.
“South Africa has the potential to be a global energy transition leader and deliver social and employment benefits in the process” said Adesina.

Norwegian group, Scatec pledged to invest R16 billion in among others, a solar power plant based in the Northern Cape. Scatec will also channel part of its pledge in the production of biogas, photovoltaic generation capacity and lithium battery technology – technologies which are likely to dominate SA’s energy generation landscape as the country accelerates implementation of a Just Energy Transition. Local energy group, African Rainbow Energy pledged to invest R3 billion in renewable resources.


Nascent confidence in South Africa’s economic reconstruction and recovery is also reflected in the willingness of global leaders in their fields to commit investments in sectors with high potential for growth. From as far afield as Canada and China, Belgium and Turkey, and the Czech Republic there were commitments directed at infrastructure development, healthcare, property, logistics, agri-processing and
the creative industries.

Major global vehicle manufacturers doubled down on their long-standing investments in the automotive sectors through the expansion of the facilities in the Eastern Cape and Gauteng.
This is a catalyst for smaller industry players – predominantly black-owned – to announce ventures within the automotive supply chains, from tyres, to batteries, to components and assembly facilities.

Success breeds success, and the country’s initial achievements in the manufacturing of vaccines for Covid-19 attracted a host of new investments in the healthcare and pharmaceuticals sector which will greatly benefit the economies of KwaZulu-Natal, the Eastern Cape and the Western Cape.

Quotes verbatim

The Investment Conference is but one high-profile event in a process of confidence building that has gained traction. The key focus now will be to put the building blocks in place to ensure the sustainability of the commitments that were announced.
Phumzile Langeni – one of President Ramaphosa’s investment envoys.

The energy transition could provide an economic stimulus that could yield new industrial opportunities and create a net 160 000 additional jobs. This includes jobs in communities currently linked to coal. Andre de Ruyter – Eskom CEO.

South Africa can be Africa’s innovation hub for health technology and the lynchpin for healthcare in general, communications, infrastructure, biomaterials and in addressing climate change.
Dr Patrick Soon-Shiong – SA born entrepreneur based in the US.


Business should speak responsibly when it comes to public matters and support the government in its drive to grow the economy. We are all in this together.
Mark Cutifani – outgoing CEO of mining giant Anglo

South Africa has the potential to be a global energy transition leader and deliver social and employment benefits in the process.
Akinwumi Adesina – African Development Bank President.

The ground-breaking changes to the regulatory environment currently in motion – including the unlocking of spectrum for mobile communications – will accelerate this momentum. Investments in this sector have been doubling year on year for the past five years.
Samantha Pokroy – CEO of a private equity firm investing in new growth opportunities.

SAIC 2022 in numbers

1African Rainbow EnergyR3 billion43Videovision Entertainment R7.5 billion
2Bio2WattR463 million44PFNR650 million
3SeraphimR437 million45DSVR2.2 billion
4PolariumR30 million46Imperial R2.1 billion
5ScatecR16 billion47Collins Residential R2 billion
6Compagnie Mauricienne de Textile LteeR390 million48WaterfallR18 billion
7NorfundR2.25 billion49TelkomR7 billion
8MeridiamR3.3. billion50RCL FoodsR400 million
9African Development Bank R42.5 billion51Synergy BlendersR94 million
10New Development BankR21.7 billion52ITACR427 million
11SABR4.5 billion53VSA GroupR204 million
12Equator BreweriesR2 billion54Government Incentives support programmeR6 billion
13ECP Private EquityR500 million55IDC support to companies, black industrialists
and SMMEs
R20.1 billion
14LotusR170 million56SwartlandR106 million
15Afrigen Biologics & VaccinesR652 million57National Empowerment Fund R2.5 billion
16Cato Ridge Logistics Hub ConsortiumR6.2 billion58SEFA loans to support SMMEsR2.3 billion
17FordR16.4 billion59EverfloR65 million
18Africa Auto GroupR550 million60Anchora EnterprisesR1.5 billion
19BMWR800 million61African QuartzR139 million
20Daimler trucks & Buses Southern AfricaR190 million62Smartway SAR75 million
21Fromex Industries R102 million63LM DiapersR75 million
22Wheel AssemblersR180 million64African Rainbow Capital Tyme BankR1.1 billion
23VolkswagenR350 million65DiDiR1.2 billion
24African Rainbow MineralsR11 billion66AirliftR300 million
25Anglo AmercianR10 billion67Teraco Data EnvironmentsR1.1 billion
26ImplatsR11.8 billion68Sigma ConnectedR267 million
27Isondo Precious MetalsR140 million69P&GR450 million
28Ivanhoe Mines New HorizonsR2.8 billion70TetraPakR500 million
29Sedibelo Platinum Mines Kell ProcessR9.4 billion71iSanti GlassR496 million
30RenergenR14 billion72HuhtamakiR150 million
31African Rainbow Capital Kropz ElandsfonteinR497 million73Ardagh Group ConsolR1.5 billion
32Tshwane Automotive SEZR1.8 billion74DefyR317 million
33BiovacR2.5 billion75LVSA GroupR204 million
34Aspen PharmacareR500 million76Cape Ocean TerminalsR2 billion
35CiplaR150 million77RayalR280 million
36PfizerR255 million78HangdaR300 million
37BT Industrial GroupR226 million79Highveld RobusteelR800 million
38IMTR20 million80Nyanza Light MetalsR5 billion
39NantSAR3 billion81SA Steel MillsR300 million
40SiemensR484 million82Scaw Metals GroupR2 billion
41Warner MediaR350 million83Alfeco Veer Aluminium Veer Steel MillsR3.5 billion
42NetflixR929 billion84Velocity VenturesR470 million