Economics

South Africa Makes Headway in $100 Billion Investment Drive

Investors have already committed $16 billion to 31 projects
Sappi, Toyota among companies to make new investment pledges

Ramaphosa discusses the country’s beleaguered state utility company Eskom, its Moody’s rating, and the trade war.Source: Bloomberg

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By Michael Cohen and Manus Cranny

November 6, 2019 at 8:20 AM UTC

Updated on

November 6, 2019 at 5:11 PM UTC

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South African President Cyril Ramaphosa said his administration is on track to lure $100 billion in new investment within five years, with more than $16 billion already committed and many more projects in the pipeline.