French companies are ready to participate in the third South Africa Investment Conference (SAIC) and the country’s economic recovery amid the Covid-19 pandemic, the French Embassy in South Africa has noted in a statement.
President Cyril Ramaphosa is hosting the third SAIC on November 17 and 18.
Owing to the global impact of Covid-19, this year’s conference takes place in a completely different and even more challenging environment than last year, the embassy stated.
During a three-day visit to South Africa earlier this month, French Foreign Trade Minister Franck Riester confirmed French commitments, announced last year, to the tune of R20-billion over the next five years in the energy, construction, agriculture and service sectors.
The embassy says it remains on track to deliver on its pledges.
“South African authorities recently announced massive economic recovery efforts, to finance projects in the fields of infrastructure and sustainable development. French companies also stand ready to participate in this recovery plan to help rebuild the South African economy,” the embassy notes.