Minister Sihle Zikalala’s investment overture goes into overdrive in the UK
Public Works and Infrastructure Minister, Sihle Zikalala, has assured investors that South Africa has put in place systems, structures and policies that are investor-friendly and are easing ways of doing business in South Africa.
Minister Zikalala delivered a keynote address this morning to over 500 global investors in London on Tuesday 07 November 2023. The Minister presented to investors a plethora of infrastructure investment opportunities in areas such as energy, water, transport and digital infrastructure.
Minister Zikalala is leading a South African delegation on a mission to promote South Africa as a preferred infrastructure investment destination. The Minister is promoting opportunities for foreign direct investments in mega infrastructure projects especially in the energy, water transport and logistics, hydrogen, harbours and digital infrastructure.
“As South Africa, we are a story of economic growth, hope and resilience to investors and social partners. We are open for business and we guarantee your return on investments in a country that is continuously eliminating red tape, has economic stability, improving the ease of doing business and where the rule of law is jealously guarded by our democratic institutions and our courts” Zikalala told investors.
Minister Zikalala assured investors that President Cyril Ramaphosa is leading the charge for a corruption-free government which honours agreements and contracts with investors.
“The investor environment is one characterised by a commitment to ethics and running a corruption-free administration. An ethical state is essential to assuring investors that their investment is safe from abuse. In addition, we are very clear about the rules of engagement with no other hidden agendas,” said Minister Zikalala.
“Despite our recent challenges which we are working hard to overcome, such as load-shedding, our economy remains resilient and has enhanced reforms, especially on financing large infrastructure projects where we have opened up space for public –private partnerships. We are mobilising private sector financing and skills to work with the government of South Africa to fast track delivery and improve contract and project management,” said Minister Zikalala.
Minister Zikalala faced gruelling questions around some of the country’s transformation policies such as the BBBEE, localisation and PFMA, which some perceive to be too bureaucratic and impact on investor confidence in South Africa’s economy.
Minister Zikalala defended the policies as critical in redressing South Africa’s economic disparities induced by the pain of its history which left many languishing on the fringes of the economy.
The South African government is creating a new economic landscape and architecture which is premised on economic inclusion of most of the population. Our quest to address the socio-economic imbalances of the past should be no threat to investors but should be part of building a united and democratic South Africa that benefits all its citizens. This is a consensus that we have built as a country that we want to be Non-racial, Non-sexist and Democratic with a Prosperous population” said Minister Zikalala.
Investors expressed excitement about the vast opportunities available in infrastructure investments. The Minister invited the global investors to visit South Africa and shared its major investment platforms such as the Presidential Infrastructure Investment Summit 2024 and the South Africa Construction Week and conference to be announced soon.
Minister Zikalala believes the Global Africa Trade Conference is a lucrative opportunity to rebuild South Africa’s economy in the wake of a disruptive pandemic of Covid-19. Zikalala is confident that the new frontiers of economic partnerships have been cemented.
For more information contact:
Lennox Mabaso
Head of Communications and Marketing at Department of Public Works and Infrastructure
Cell: 0828842403
Nombulelo Nyathela
Chief Director: External Relations and Communications at Infrastructure South Africa
Cell: 0605034933
