Now in it's second day, President Cyril Ramaphosa's much anticipated (and closely watched) Investment Summit has already amassed 10 new pledges totalling R134.1 billion as of Friday morning.
The 10 pledges represent half of the 20 new projects Ramaphosa's economic advisor, Trudi Makhaya said would be unveiled at the Investment Conference. Makhaya told City Press the 20 projects will be bringing in R150 billion towards the President's target of raising $100 billion (R1.4 trillion) in new investments.
Global mining company Anglo American announced a R71.5 billion investment into South Africa's mining industry for the next five years. Anglo's massive pledge is the highest thus far.
Another mining multinational with operations in SA, Vedanta pledged R21.4 billion towards the country's metal industry.
The local arm of German automobile maker, Mercedes-Benz South Africa, committed R10 billion towards its East London plant over the next five years, in line with a stated aim to increase localisation.
SA-founded and now international packaging and paper group Mondi announced an R8 billion investment in South Africa.
Another pulp and paper company with global operations, Sappi pledged R7.7 billion towards the local economy, specialising in manufacture and textiles.
One of the country's most valuable companies, multinational internet and media group, Naspers* announced a R4.6 billion investment into South Africa and will be setting up a tech innovation hub called Naspers Foundry.
Ivanplats, the local subsidiary of Canadian mining company Ivanhoe Mines, promised R4.5 billion in investment in the local economy.
Pan-African and multi-sector business services company Mara announced a R1.5 billion investment into South Africa's telecommunications sector, with a big focus on jobs.
Stellenbosch-based tech start-up Rain said its committing R1 billion in investment and will be building a new 5G network, enhancing the telecommunications sector.
* Business Insider South Africa is a part of 24.com, a division of Media24. Media24 is a Naspers company.
Naspers' investment amount has been corrected in the article.
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