30 October 2018
President Ramaphosa commends German investment in South Africa
President Cyril Ramaphosa has commended German investors for their continued engagement with South Africa. There are around 600 German companies in South Africa, employing more than 100 000 South Africans.
The President says German companies are among those committed partners who are accompanying South Africa on its journey of renewal after several years of poor economic performance.
President Ramaphosa shared this assessment with senior leadership of leading German companies – including industrial and professional firms, trade financiers and institutional investors – during a breakfast engagement this morning, Tuesday, 30 October 2018. The engagement with German business leaders preceded the commencement of the G20 Investment Summit in Berlin, Germany.
President Ramaphosa assured German investors that government was leading an effort to energise South Africans to work in unison to end corruption and achieve sustainable, inclusive growth.
The President said expanded investment was needed in productive sectors to reduce the high rate of unemployment in South Africa.
The President affirmed the growing partnership among government, business, labour and communities as an enabler for resolving critical issues such as economic recovery and land redistribution.
President Ramaphosa said this emerging social compact allowed social partners to listen to one another and help resolve common problems.
German business leaders briefed the President on their experiences in South Africa, including some of the challenges of doing business.
The President emphasised government’s commitment to listen to the needs and concerns of investment, and to address these as a matter of priority.
Khusela Diko, Spokesperson - +27 72 854 5707
The Presidency of the Republic of South Africa