SA’s envisaged US$100bn investment to benefit Eswatini
Eswatini will benefit from South Africa’s aspiration to attract huge investments to address slow economic growth, inequalities and youth unemployment.
This is an assertion made by South Africa’s acting High Commissioner to Eswatini, Curtis Singo, on the occasion of celebrating the National Day of South Africa on Thursday evening at the Royal Villas.
Singo in his remarks disclosed that earlier this month, South African President Cyril Ramaphosa appointed economic envoys to look for US$100 billion (about E1.2 trillion) investment to address slow economic growth, inequalities and youth unemployment.
He said this aspiration will not only benefit that country alone, but also countries in the region, in particular, Eswatini. He said later this year President Ramaphosa will convene an Investment Conference that will offer opportunities to advance and accelerate regional development while addressing national interest.
Singo remembered the basis the late president Nelson Mandela laid for the democratic South Africa to pursue where on the eve of becoming the first democratic elected President. Mandela reminded all South Africans that their country was an integral part of the Southern African Development Community (SADC) region with its destination linked to that of the African continent, which is much more than a mere geographical concept.
“This assertion guides our foreign policy implementation with much focus on the African continent as a priority. It is, therefore, necessary to share with you that in honour of this departed struggle icon, our government dedicated 2018 a year of renewal. Therefore, driven by this expression, President Ramaphosa has extended the renewal year to the dawn, which as I address now is already dawning,” said Singo.
Singo, therefore, called upon the business community of Eswatini to zoom into President Cyril Ramaphosa’s new dawn as it offers much needed opportunities for the development of the region.
He said the new dawn has to present opportunities to the business community to explore in the fields of renewable energy.
“This comes with the signing of agreements on the Constitution of 27 renewable energy independent power projects (IPP), with a combined investment value of E56 billion and a combined capacity of 2 300mw.
Such investment is essential for the Kingdom of Eswatini to zoom into for it’s economic opportunities which strengthen the country’s efforts towards clean energy generation. To ensure that investors find it easy to conduct their business, our government also allocated E18.8 billion for incentive programmes over the next three years to provide financial support for the private sector,” he added.
Prince Guduza (c) joined by Hhohho RA Prince Tshekedi and PS Andreas Mathabela for a toast.