Worthy as it was, what did Ramaphosa’s conference really add?
Some of what was pledged looked like regular stay-in-business capex
President Cyril Ramaphosa’s second South African Investment Conference didn’t have quite the feel-good factor of the first, but it definitely confounded the sceptics. He managed to draw a crowd of about 1,500, including captains of industry and some big money managers, to an event that ran relatively smoothly and allowed for some good networking.
The damper that Moody’s might have put on proceedings was easily countered by the elation of the spectacular Springbok win. Ramaphosa inspired the crowds and, crucially, he managed to round up R363bn in investment pledges over the next five years, up from last year’s R300bn and bringing him closer to his R1.2-trillion target...