It is once again time for the yearly South African Investment Conference (SAIC), which is scheduled to be held at the Sandton Convention Centre, in Johannesburg, on March 24.

Trade, Industry and Competition Minister Ebrahim Patel on February 28 outlined the preparations under way for the conference, highlighting that the conference serves as a platform for the private sector to make pledges of investment in productive enterprises, which will end up as fixed investment in the economy.

This year’s conference is happening as the country emerges from the Covid-19 pandemic.

The SAIC is part of government’s investment drive to attract R1.2-trillion worth of investments over five years.

Since the first investment conference in 2018, South Africa has attracted R770-billion worth of investments across a range of economic sectors – mining, agriculture, manufacturing and the digital economy.

Patel said the conference is always well attended by international investors.

Looking back, the Minister explained that all the SAIC investment commitments were made across a total 152 projects.

Almost a third of those - 45 projects - have been completed, meaning either a factory has been built, a refurbishment of sorts has been undertaken or a mine shaft has been sunk.

A further 57 projects are under construction, having moved out of the starting blocks and permitting processes.

However, by the start of February, 15 of the overall 152 projects had been put on hold or delayed otherwise.

The completed projects, meanwhile, included a R3.4-billion manufacturing plant launched by JSE-listed Aspen in October last year to produce Covid-19 vaccines and an anaesthetic trading as Dipravan, in Gqeberha.

Another example was automotive group Mercedes-Benz spending R10-billion on factory upgrades at three of its facilities in the country, in order to build its new C-Class vehicle, as well as to strengthen its local supply chain.

The C-Class is being exported to more than 100 countries globally.

Moreover, JSE-listed paper and packaging manufacturer Sappi is expanding pulp production capacity to almost 900 000 t/y at its Saiccor Mill, in KwaZulu-Natal, to the tune of R7-billion, which also started as an investment pledge at the SAIC in 2018.

Diversified miner Anglo American South Africa executive committee member Wimpie Pienaar reiterated Anglo American’s R100-billion commitment to expanding and extending its assets in the country, including by converting its Venetia diamond mine to underground mining, a new pit at the Kolomela iron-ore mine, in the Northern Cape, and building various solar farms to provide power for its operations over the next few years.

Four years ago, Vodacom made a pledge of R50-billion on fixed and mobile networks to be made over five years. The company confirmed on February 28 that, to date, it had invested R47-billion on its network.

About R315-billion of the R770-billion investment commitments had realised to date, according to the companies reporting, while others were still due to report on the extent of their spending.

So far, 64% of the overall R1.2-trillion investment commitment target had been achieved.

Special economic adviser to the Presidency Trudi Makhaya shared the theme for the fourth instalment of the SAIC as being “Unlocking investment for growth and job creation” with objectives including taking stock of government’s actions to support these investments, including on the policy front.

“As in previous years, President Cyril Ramaphosa will open the one-day conference, followed by a plenary unpacking the case for investing in South Africa.

“The themes of discussion in dedicated panel sessions will include impact investing, tourism, infrastructure, agricultural opportunities to sustain growth and tap into new markets, the digital era, and mining and manufacturing.”

She mentioned that the District Development Model as an enabler for growth would also be discussed.