After less than two months as president, Cyril Ramaphosa strapped on his boots and was ready to get to work and revive the South African economy. He set out a plan to attract $100-billion worth of investments. And in just a matter of six months, the presidency has managed to surpass the halfway mark.
Here's how the master plan has paid off so far:
April: Ramaphosa announces 5-year investment plan and deploys a special envoy
To drive foreign investment to South Africa following a R58,4-billion decline under the Zuma presidency, Ramaphosa announces that an investment conference aimed at attracting $100-billion will take place later in the year.
He set up special teams to travel across the world in search for $100-billion in investment from the public and private sectors. The team is led by former minister of finance Trevor Manuel, alongside former deputy minister Mcebisi Jonas, Afropulse executive chairperson Phumzile Langeni and chairman of Liberty Group Jacko Maree as well as the president's economic advisor, Trudi Makhaya. The team is expected to visit Asia, Europe and the Americas in search for investment opportunities.
April: South Africa lands £50-million investment from UK
During his first state visit to the UK, Ramaphosa sealed a deal with Prime Minister Theresa May to tighten the business relations between the UK and SA.
July: Ramaphosa embarks on a three country state visit in Nigeria, the UAE and Saudi Arabia
•UAE commits $10-billion.
•South Africa signs R12 billion renewable energy deal as part of Saudi's plans to invest $10 billion.
July: China pledges to invest $14.7-billion
As part of strengthening the relations between South Africa and one of its biggest trading partners, China signed an agreement during the 10th BRICS Summit in Johannesburg to pour in $14.7-billion in investments. Shortly after the announcement was made, the Democratic Alliance said it wanted Ramaphosa to give details on the deal with China, saying that it would be "naive" to think that it doesn't come with "strings attached."
October: R290-billion was secured during the Investment Conference in Johannesburg, placing SA halfway to the $100-billion target.
