President Mbeki welcomes further investment into South Africa from the New York Common Retirement Fund

New York - South African President Thabo Mbeki on Friday 16 September, welcomed the commitment by the Head of the New York Common Retirement Fund, Alan Hevesi to increase their investment in South Africa to 318 million US dollars from their current investment of 238 million US dollars to boost Black Economic Empowerment.

Hevesi, the New York Comptroller, announced during a joint press conference with President Mbeki, that the new investment totaling 80 million US dollars will be invested in private equity funds of Ethos and Braits, with a view to boosting black economic empowerment.

President and Mrs Mbeki are currently in New York leading a South African Government delegation including Minister of Foreign Affairs, Dr Nkosazana Dlamini Zuma and her Director-General, Dr Ayanda Ntsaluba to the Millennium Review Summit and the 60th Session of the UN General Assembly.

Earlier on Friday, President Mbeki supported by Minister of Social Development, Dr Zola Skweyiya, attended the inaugural launch of the Clinton Global Initiative against poverty. President Mbeki participated in a panel discussion on "Escape from poverty" with Dr Javier Solana the EU's high Representative on Foreign and Economic Policy.

PRESIDENT THABO MBEKI TO CONCLUDE VISIT TO NEW YORK WITH AN ADDRESS TO THE UN GENERAL ASSEMBLY

President Mbeki will conclude his visit to New York on Saturday, 17 September with an address to the 60th Session of the UN General Assembly regarding the UN outcome document on the comprehensive reform of the international body.

SATURDAY'S BILATERAL DISCUSSIONS

Later on Saturday, President Mbeki supported by Minister Dlamini Zuma will receive a courtesy call from US Secretary of State, Dr Condoleezza Rice and hold further bilateral discussions with Iraqi President Ibrahim Al-Jaffari.

Issued by Ronnie Mamoepa at +27 82 990 4853

c/o South African Mission - New York, USA

16 September 2005

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