Some R206 billion in new investment pledges was secured at this week’s Gauteng Investment Conference.
The Gauteng Provincial Government also said in an update, pledges increased to R518 billion over the past 2 years.
Amounts pledged will be invested into 40 projects across 13 key sectors including property, energy, and manufacturing projects.
About 165,000 must still be created through this injection.
It also emerged at the Conference that investor confidence in South Africa is high, at 78%, China at 17%, USA at 2%, the UK at 1% and others contributing around 2%.
Panyaza Lesufi, Gauteng’s Premier emphasised the central role that Gauteng plays in transforming the economy of the country and the continent.
He also said by getting basics right in local and provincial government, Gauteng will attract partnerships and investment.
This comes a time when the World Bank is assessing priority areas of investment in Sub-Saharan Africa.
The Bank said government resources in the region are scarce and job-seekers are many.
The bank plans to launch its State of the Africa Region report, on the 17th of April, titled “Policies that Grow Industries and Create Jobs” making the point that more than 620 million people are expected to enter Africa’s labor force by 2050.
Therefore, countries must shift toward growth that is more productive, diversified, and private‑sector‑led to create jobs.
Picture: Supplied