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South Africa Unveils New Strategy to Lure More Investment

Cyril Ramaphosa

Cyril Ramaphosa

Photographer: Dwayne Senior/Bloomberg

South Africa’s Presidency unveiled a draft plan to draw more investment to help grow the coronavirus-battered economy and create jobs for the 34.5% of its labor force that’s unemployed. 

“The Country Investment Strategy is aimed at creating a fully integrated and coordinated approach to investment through aligning government priorities and channeling investment towards areas with the greatest growth potential,” the Presidency said in the document, which was published in the Government Gazette on Tuesday. Those should be “supported by aptly co-ordinated incentive schemes and anchored by quality institutions,” it said.