Black industrialists, multinationals, government agencies and small businesses have all dipped into their pockets to contribute towards the country’s economic development.
Contributing towards President Cyril Ramaphosa’s vision of attracting R1.2 trillion over five years, the businesses on Thursday at the 4th SA Investment Conference cumulatively pledged R332 billion in investments.
The investments ranged from mining, manufacturing and ICT, among others.
Wrapping up investment pledges on Thursday, first was Chinese company Hangda.
It announced that the company would be investing R300 million on a steel manufacturing plant in Thaba Nchu, in the Free State.
Next was Highveld Robusteel, a black industrialist, with an R800 million investment on a steel and magnesium manufacturing plant in Mpumalanga.
Nyanza Light Metals, another black industrialist, announced it was investing R5 billion in titanium dioxide pigment manufacturing in the Richard’s Bay Industrial Zone in KZN.
SA Steel Mills unveiled a R300 million steel production plant in Gauteng.
Scaw Metals Group committed R2 billion toward their steel manufacturing plant in Gauteng.
Alfeco & Veer Aluminium, Veer Steel Mills invested R3.5 billion in a steel manufacturing plant also in Gauteng.
From the UAE, Velocity Ventures vowed to plough R470 million in an aluminium and steel plant in Gauteng.
Rayal, a Chinese company, committed R280 million in a porcelain tile manufacturing plant in Gauteng.
LVSA group, a Black industrialist group, unveiled a R204 million investment on a valve manufacturing initiative in KZN.
Defy, a Durban-based company of Turkish-based Arçelik, made a R317 million pledge towards its goods manufacturing plant in KZN.
Irish company Ardagh in partnership with Consol will invest R1.5 billion in a new glass container production facility in Gauteng.
Huhtamaki, from Finland, pledged R150 million on the expansion of their manufacturing plant in KZN.
Isanti glass, another black industrialist, will plough R496 million in a glass manufacturing plant in Gauteng.
Sweden’s Tetra Pak committed R500 million towards the expansion of a manufacturing plant in KZN.
US multinational Proctor & Gamble’s R450 million will see the company expand its diaper plant in Gauteng.
Business process, ICT and digital services
In this regard, United Kingdom-based Sigma Connected said it would inject R267 million in the global business services sector in the Western Cape.
Teraco Data Environments committed a further R1.1 billion towards the construction of a data centre in Gauteng and power generation for its facilities across the country.
Pakistani e-commerce service Airlift unveiled a R300 million investment in Gauteng and the Western Cape.
New e-hailing service Didi is investing R1.2 billion in the South African market.
With a R1.1 billion investment, TymeBank continues its investment growth.
Special Economic Zones
The three Black industrialists based at the Dube Trade Port in Durban – LM Diapers & Lil Masters, Smartway SA, and Synergy Blenders – will respectively invest R75 million, R139 million and R94 million.
Also making significant investments were African Quartz with R1.5 billion, Anchora Enterprises – with R1.8 billion – and Cape Ocean Terminals – R2 billion. All three are based at the Saldana Bay SEZ.
Based at the Atlantis SEZ, Marine and industrial refrigeration systems company, Everflo, will be investing R65 million on green energy and cooling microsystems.
Swartland Experience Quality will invest R106 million on a polystyrene manufacturing plant.
The Small Enterprise Finance Agency revealed a R2.3 billion funding budget for SMMEs. The National Empowerment Fund unveiled a R2.5 billion funding kitty. The Industrial Development Corporation said it has R20.1 billion finance to fund companies, black industrialists and SMMEs.
Government said it has R6 billion in its coffers for incentive support programmes. The International Trade Administration Commission said it had set aside R427 million to unlock investment in manufacturing facilities and infrastructure.