As part of the fifth South Africa Investment Conference, President Cyril Ramaphosa met with investors. According to Richard Rivett-Carnac, the Chief Executive Officer of the South African Breweries, their investment commitment is anticipated to result in the creation of 40.000 new jobs in the nation.
“ We are committing R5.8 billion and will invest the full amount by the end of this year. It’s primarily for the expansion of our brewery in Gqeberha. It was a project that was started last year and will be completed this year. And this is at the back of last year’s investment commitment to invest in 4 point five.,”
While President Ramaphosa has outlined his multibillion-dollar US investment goal, South Africans on the street feel that in order to increase investor confidence, he should concentrate on eliminating electrical shortages.
“I feel like President Ramaphosa should be focusing on sorting out our electricity problem because, in terms of business, we are losing more than we are profiting because of the extra provisions we have to make for electricity,” explains Miles Thomas, a South African citizen.
Kavish Ramanand, also a South African citizen expresses concerns about the expenditure of the funds injected by investors.
Ramanand said; “If people are willing to invest then that’s great. The first thing they need to look at is the issue of corruption and protecting the funds. I think also load-shedding.”
“They can invest and the electricity crisis will be alright meaning they can continue with the business. Not everything is about electricity. We do have generators now to boost businesses,”
Cebo Ngema is adamant that President Ramaphosa’s energy investment plan would save the nation.
The investment was first introduced by President Cyril Ramaphosa in 2018 to help attract more investors to the country.
