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South Africa targets $111 billion investment goal in tough investor climate

South Africa targets $111 billion investment goal in tough investor climate

SOUTH Africa needs to urgently fix energy, transport and security challenges if it is to reverse souring investor sentiment, executives said as President Cyril Ramaphosa targets 2 trillion rands ($111 billion) in new investments over the next five years. Executives were speaking at the South African Investment Conference in Johannesburg, launched by Ramaphosa in 2018 as a way to boost economic activity that had been in decline for over a decade in Africa's most advanced but struggling economy. Mismanagement and corruption at state-owned companies, including power utility Eskom and freight logistics group Transnet, have had a knock-on effect on ports…
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