JOHANNESBURG – The Presidency says the South African delegation at the World Economic Forum is pleased with the economic progress the country has made in recent months, showing that their hard work is finally paying off.
President Cyril Ramaphosa last year instructed Public Enterprises Minister Pravin Gordhan to fix cash-strapped state-owned enterprises.
Almost a year later, Team SA is in Davos, Switzerland hoping to show better results to potential international investors.
Earlier this week, a UN report showed that foreign direct investment into South Africa grew from $1.3 billion in 2017 to $7.1 billion last year.
Ramaphosa’s spokesperson Khusela Diko says this is good news for the country.
“Team SA is buoyed by the fact that our work is starting to pay off. A report of the United Nations agency on trade would have spoken about almost 400% increase in foreign direct investment in South Africa.”
Today, Ramaphosa will chair a session on shaping Africa’s agenda in the global context.
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