​Qaqambile Mdledle
President Cyril Ramaphosa has announced that the fourth South Africa Investment Conference (SAIC) has bagged 80 investment pledges amounting to R352 billion.
This brings the total pledges to R1.14 trillion, reaching 95% of the ambitious target set 4 years ago.
 President Cyril Ramaphosa has committed to raising more than R1.2 trillion in investments for South Africa over five years. 
This initiative culminated in the launch of the SAIC, which now spearheads the government's investment drive.
Since its launch in 2018, SAIC has gathered investment pledges spread across a range of economic sectors including, mining, manufacturing, agriculture, and the digital economy.
Of the 152 investment pledges made since 2018, 45 projects have been completed. A further 57 are under construction while 15 have been put on hold, in several cases due to the impact of the COVID-19 pandemic.
In an effort to boost economic growth and facilitate the creation of more employment opportunities, the African Development Bank committed R42.5 billion in new financing to South Africa over the next five years.
This includes a R6 billion package to help state power utility Eskom transition toward using cleaner sources of energy.
"This financing will support public and private sector investments in priority areas of agriculture, renewable energy, transport, youth employment, health, vaccines manufacturing, among others…We know South Africa is bankable," said African Development Bank Group President Akinwumi Adesina. 
Other commitments made include:
A plan by Ford to spend R16.4 billion expanding its manufacturing capacity.
An R11.8 billion investment by African Rainbow Minerals in two new platinum mines.
Impala Platinum intention to spend almost R50 billion on new capital projects over the next five years.
Sedibelo Platinum Mines plans to spend R9.4 billion on expanding production.
Waterfall Management Co.'s commitment to invest R18 billion in commercial and residential property.
An undertaking by Telkom to spend R7 billion on telecommunications infrastructure.
The New Development Bank also committed to providing an additional R21.7 billion in financing to South Africa.
Ramaphosa opened this year's summit with a message of optimism and determination in the face of a global pandemic, tough economic headwinds, and millions of job losses.
"This 4th South Africa Investment Conference could not be taking place at a better time, just as the country is casting off the long shadow of the pandemic and embarking on a concerted and determined recovery," he told investors at the Sandton Convention Centre.
"Our economy has been severely damaged with the loss of two million jobs. I am here to share with you what has been done and what we are doing."
The president outlined measures government has made, including social and economic relief packages, describing them as "difficult but necessary reforms" in energy, state-owned enterprises, and the fiscal and taxation sectors, to drive economic growth.
He assured investors that as the country continues along the path of reconstruction and recovery, government is also putting measures to tackle crime, transforming the energy sector, introducing new technologies and skills, and improving the efficiency of the rail and port infrastructure.  
"As investors, you need to know that your investments are secure, that the operating environment is stable, and that you are supported by policy certainty and regulatory safeguards," he said adding that the investments are making are a difference in local economies and in people's lives.