President Cyril Ramaphosa announced in April 2018 that he is spearheading a drive to generate R1.2 billion in private sector investment over the next five years in order to create 1–1.5 million new job opportunities in South Africa. To this end, he has assembled a team of finance and business experts – former finance minister Trevor Manuel, former deputy finance minister Mcebisi Jonas, former Standard Bank Group CEO Jacko Maree, and Astrapak Chairperson Phumzile Langeni – as ‘investment envoys’.
FDI is an important enabler of economic growth. For emerging market economies, foreign investment inflows are crucial for transferring money and expertise from multinational companies to local enterprises. Emerging markets also need FDI to help finance infrastructure deficits.
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