https://www.engineeringnews.co.za

Business Leadership urges SA private sector to match foreign investment

BLSA Chief Executive Bonang Mohale

BLSA Chief Executive Bonang Mohale

26th July 2018

By: African News Agency

  

Font size: - +

Business Leadership South Africa (BLSA) on Thursday urged the local private sector to help build on the BRICS Summit by matching and taking advantage of the investment opportunities presented by the summit and associated business forums. 

This follows an announcement of US $14,7 billion worth of investments by China ahead of the Summit, complementing the pledges of US $10 billion each from Saudi Arabia and United Arab Emirates (UAE) earlier this month.

BLSA chief executive, Bonang Mohale, said that they have, over the last few months, been working with presidential special envoys to help drive the project to recruit U.S.$100 billion in foreign direct investment and another US $100 billion made up of domestic direct investment. 

"The investment announcement was a timely boost ahead of such an important gathering. We would like to see the local private sector match these efforts and help unlock the opportunities presented by these investments," Mohale said.

"Our board remains committed to ensuring that local business matches – rand-for-rand – the FDI target. We are confident this is achievable. Already, one of our members – Sappi – has just announced R7,5 billion over the next five years."

The 10th BRICS Leaders' Summit continues in Johannesburg and is attended by all heads of states from Brazil, Russia, India, China, and South Africa on Thursday

Edited by African News Agency

Comments

Showroom

Stewarts & Lloyds
Stewarts & Lloyds

Stewarts & Lloyds today supplies steel and tube, pipe and fittings, valves, pumps, irrigation, fencing, profiling and roofing products. The cash...

VISIT SHOWROOM 
Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.07 0.124s - 139pq - 2rq
Subscribe Now