Investors pledge R363bn

CHALLENGE: NEED TO SHOWCASE SMALL BUSINESS POTENTIAL

SA Investment Conference brings in R73m more than 2018 event.

President Cyril Ramaphosa yesterday closed the two-day SA Investment Conference (SAIC) with a total sum of R363 billion pledged by local and international investors.

The pledges, made towards many projects, were R73 million more compared with the R290 billion raised at the SAIC inaugural gathering last year.

In his address at the small, medium and micro enterprises (SMME) leg of the conference held at the University of Johannesburg’s Soweto campus, Ramaphosa lashed out at some government officials who, he said, had failed small entrepreneurs by not paying them timeously.

“As we conclude the second South Africa Investment Conference, forging ahead with plans to raise R1.2 trillion in new domestic and foreign investment over five years, we must consider how to better showcase the investment potential of our SMMEs,” said Ramaphosa.

“In our many engagements with the sector – mainly through the department of small business development – concerns have been raised by SMME owners and operators on access to financing, late payment for services rendered to government, a high regulatory burden, lack of access to information, economic infrastructure, rising fuel and utility costs, among other things,” Ramaphosa said.

“These challenges severely impact the viability of SMMEs and even force some out of business.

“Sometimes, payment to the