President Cyril Ramaphosa has assured potential investors that South
Africa is working hard to provide a conducive environment for investors.
“Government is working with urgency to guide the economy towards a
more sustainable growth trajectory and to restore South Africa to
investment grade status at all credit rating agencies,” said the
President.
He was speaking at a business seminar on opportunities in South
Africa, on the margins of the United Nations General Assembly taking
place in New York.
The President also engaged in a roundtable discussion hosted by
American businessman, Michael Bloomberg, on investment opportunities
in South Africa.
Addressing investors, the President told delegates that South Africa,
in a bid to revive its economy, made new investments into the economy
a central priority for government. To achieve this, President
Ramaphosa outlined government’s ambitious investment drive to raise
$100 billion in new investment over five years.
“An important milestone in this initiative is an Investment Conference
to be held in Johannesburg on 26 October.
“The Investment Conference, which will involve domestic and
international investors, provides a platform for would-be investors to
seek out opportunities in the South African market,” said the President.
Reflecting on investment relations with the United States, he
highlighted that South Africa is the second largest destination of US
investments in Sub-Saharan Africa after Mauritius.
Total bilateral investment, comprising Foreign Direct Investment,
portfolio and other investments, stood at approximately R2.2 trillion
in 2016.
Investments by US companies into South Africa accounted for about 22%
of total inward investments from the world.
There are over 800 US companies doing business in South Africa,
accounting for 10% of Gross Domestic Product and employing over 220
000 people.
“It is our intention, through this investment drive, to substantially
expand the presence of US companies in South Africa.
“Among other things, this requires that we improve the investment
environment in the country and that we take decisive

measures to
address the key structural challenges in our economy,” said President
Ramaphosa.
Invest SA
As part of improving South Africa’s investment service to investors,
the President highlighted that government established Invest SA to
focus on investment promotion and facilitation.
Invest SA brings together key government departments in a single
location to provide specialist advisory services, fast track
investment projects and reduce regulatory burdens for investors.
Stimulus package
President Ramaphosa also reiterated measures announced as part of
government’s stimulus package to reignite the economy.
These include; reprioritisation of public spending to support job
creation, the establishment of an Infrastructure Fund, addressing
urgent and pressing matters in education and health and investing in
municipal social infrastructure improvement.
Mining Charter
On mining, President Ramaphosa told investors that government has
finalised a new Mining Charter in consultation with the mining
industry, labour, affected communities and other stakeholders.
“This provides clarity on how we will balance the imperatives of
growth, sustainability and transformation,” he said.
Land reform
Speaking on land, President Ramaphosa assured delegates that land
reform will be undertaken in a manner that is consistent with the
Constitution, enhances agricultural production and food security and
promotes economic development.
“For generations, black South Africans were denied opportunities to
own assets, establish businesses, acquire skills and enter professions.
“Nowhere was this more apparent than in the patterns of ownership and
usage of land. The extreme concentration of ownership of land is one
of the great impediments to the full realisation of our country’s
potential,” said the President.
The official programme for the UN General Assembly, which has seen
world issues come under the spotlight, will wrap up today. �`
SAnews.gov.za V.2492

All 30 bank branches offering Smart ID cards and passport renewals Hanno Labuschagne14 May 2024 All 30 bank branches offering Smart ID cards and passport renewals Over half the bank branches that support Smart ID card issuing and passport renewals are in Gauteng. In addition, more than 83% of the branches are in the three most populous provinces in South Africa, while only about 56.3% of the country’s population lives in these provinces. Many people will have to travel far to use one of these branches instead of a regular, problem-ridden Home Affairs office to get a new ID or passport. Thirty bank branches support the eHomeAffairs system introduced by the Department of Home Affairs (DHA) in 2016. V.5355
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The Constitutional Court recently ruled that children born in South Africa to foreign parents qualify for South African citizenship in terms of Section 2 of the South African Citizenship Act. That is, if you were born in South Africa to foreign parents who have not been admitted as permanent residents, you qualify to apply for South African citizenship upon becoming a major if your birth was registered and if you have lived here all your life, irrespective of the date of your birth and you have not accepted the nationality of another country. The judgment also reduced the term for applying for citizenship by holders of permanent residence from 5 years to 10 years by declaring Regulation 3(2)(a) of the Citizenship Act Regulations unconstitutional. V.5357
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Turkey Visa for South African Citizens In 2013, the e Visa program was launched by the Turkish Ministry of Foreign Affairs, enabling citizens of more than 100 countries, such as South Africa, to request a Turkish visa through the internet. Therefore, South African tourists favor Turkey as a destination. South African citizens are no longer required to visit the Turkish embassy in person as they can now conveniently apply for their e-visa online. V.5348
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The Australian High Court passed a judgement on Friday that dismissed an Iranian asylum seeker’s plea to be released from immigration detention and enter the country. The Iranian asylum seeker, applicant ASF-17, applied to the Federal Court of Australia for a writ of habeas corpus in 2023 on the basis that his continuing detention exceeded the constitutional limitation identified in the orders of NZYQ v Minister for Immigration, Citizenship and Multicultural Affairs released the week prior. The applicant has been refusing to cooperate with the process of being removed from Australia to Iran since 2018, arguing that he would be at risk of persecution for his sexual orientation and religious beliefs. V.5349
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Home Affairs officials are “selling South Africa to foreign nationals” out of greed, says Minister Aaron Motsoaledi. In an exclusive interview with The Witness on Thursday, Motsoaledi said 182 department officials were dismissed for fraud and corruption between 2018 and 2024. Among those dismissed was a chief director who was implicated in assisting a foreign national in getting a permanent residence permit in the country, at a fee. Those who bear the brunt of the corruption are mostly drug addicts, whose personal information is used by Home Affairs officials to create fake IDs and passports for foreigners. V.5350
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Visa waivers for travellers from Kenya and Ghana have catalysed a remarkable 15.4% increase in international tourist numbers to South Africa. File picture: Tracey Adams/ Independent Newspapers South Africa`s tourism sector is experiencing a renaissance fuelled by the recent removal of visa requirements for travellers from select African countries. The latest data from Statistics South Africa showed a remarkable surge in international arrivals, signalling a promising trajectory for the industry. V.5354
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The City of Cape Town has called on the Department of Home Affairs (DHA) to address the visa system crisis and confusion over remote work visas. James Vos, the City’s Mayco member for economic growth, says the department ‘shot itself in the foot’ with the premature gazetting and withdrawal of regulations. ‘On 28 March, the DHA published the amended immigration regulations. This, however, was a day before the closing date of the public comment period. And then, on 12 April, the minister issued a notice withdrawing the 28 March amendments.’ As reported by BusinessTech, the regulations replaced the critical skills list with a new points-based system and introduced the remote work visa category. V.5345
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The City of Cape Town has slammed the Department of Home Affairs for creating confusion and continuing to score “infuriating” own goals in launching remote work visas in the country. Mayoral committee member for economic growth, James Vos, said that the last month has seen the department shoot itself in the foot with the premature gazetting and subsequent withdrawal of regulations that would create this category of visa. “On 28 March, the DHA published the amended immigration regulations. This, however, was a day before the closing date of the public comment period. And then, on 12 April, the minister issued a notice withdrawing the 28 March amendments,” Vos said. V.5346
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Recently settled case in the Labour Court demonstrated that excluding a job applicant because of their criminal record is only lawful when the requirements of that job explicitly outline and justify the need for a clean criminal record. However, legal experts say that the court’s decision ultimately delinked trust and honesty from the inherent requirements of a job, which was “concerning.” ENS Africa’s Nils Braatvedt, Kim Vova, and Lutho Zono examined the background, outcome, and subsequent analysis of the recent court ruling in O’Connor v LexisNexis. V.5347
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The City of Cape Town has slammed the Department of Home Affairs for creating confusion and continuing to score “infuriating” own goals in launching remote work visas in the country. Mayoral committee member for economic growth, James Vos, said that the last month has seen the department shoot itself in the foot with the premature gazetting-and subsequent withdrawal-of regulations that would create this category of visa. V.5343
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