Amid global turmoil, President Cyril Ramaphosa has struck an optimistic tone, ahead of the sixth South African Investment Conference (SAIC) in Sandton.

This, despite the potential knock-on effect of the looming fuel price shock, which the President has conceded is a setback.

Speaking on the sidelines of the ANC Limpopo elective conference on Sunday, Ramaphosa said the fuel crisis, caused by the Middle East conflict, is affecting countries around the world. He said the government would address the matter.

This week, the country will welcome over 1,000 delegates from more than 50 countries to the Sandton Convention Centre. Ramaphosa will deliver the opening address on Tuesday, 31 March.

In his weekly newsletter, Ramaphosa says investors are increasingly looking to destinations that have demonstrated “resilience in the face of volatile global financial conditions”, with South Africa presenting a favourable proposition.

At the end of the first five-year investment mobilisation drive, between 2018 and 2024, Ramaphosa says pledges valued at R1,57 trillion were secured. Over 300 projects were initiated, and to date, 161 of these have been finalised or are under construction.

“The pledges have not been merely vague commitments and promises, but have materialised as tangible, brick-and-mortar projects that are creating jobs for our people.”

The President says South Africa has become the leading destination for renewable energy investment on the continent, with these investments making up a considerable share of the total pledges made at previous conferences.

“We have a sound policy and regulatory environment, offering certainty to investors at a time when we are just one of many emerging markets across the globe vying for capital.”

Ramaphosa says South Africa has also become a gateway for businesses looking to set up or expand their operations in Africa.

“Through this conference, as well as the five preceding ones, we will be seeking to build even greater confidence in our country as an investment destination, and to demonstrate our commitment to structural reform, policy certainty and policy execution.”

The President says the “green shoots of economic recovery”  will further bolster the country’s position, as it seeks to ramp up investments.

“By showcasing our unique and favourable proposition as an investment destination of choice, we have set ourselves the goal of mobilising R2 trillion in new investments by 2028.”

Read the President’s full newsletter HERE.