Investment

PRESIDENT Cyril Ramaphosa must be elated by the success of his recent state visit to Saudi Arabia, returning with 11 deals signed to promote investment in the renewable energy, water, green hydrogen, waste diversion, logistics and aerial survey sectors, writes Mushtak Parker.

Ramaphosa and his delegation had three goals – selling Brand South Africa; attracting Foreign Direct Investment (FDI), especially a major contribution from Saudi public and private investors towards Pretoria’s $70 billion FDI target; and promoting SA as the gateway for African markets with the African Continental Free Trade Area. The Saudi government has access to $1.213 trillion (R22 trillion) in assets under management. | IOL