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South African President Cyril Ramaphosa launched a nearly $200 billion investment drive aimed at accelerating economic recovery and industrialization in the face of growing worry over the impact of the Iran war on the continent\u2019s biggest economy.<\/p>\n
For more than a decade, South Africa\u2019s economy has barely grown<\/a>, leaving it with crumbling infrastructure and the need to create jobs in a country where one in three people are unemployed. Ramaphosa\u2019s pitch to investors in Johannesburg this week was that South Africa has fixed the worst bottlenecks: He said the country is opening key sectors to private capital and is ready for large scale investments.<\/p>\n Ramaphosa said the effort will run through 2030 with delegates at the South African Investment Conference pledging $53 billion across 31 projects spanning energy, logistics, manufacturing, and digital infrastructure. They include Coca-Cola\u2019s $1 billion expansion plan<\/a>, and a $3.6 billion commitment from Sasol \u2014 the world\u2019s biggest maker of fuel from coal \u2014 to upgrade operations.<\/p>\n \u2014 Tiisetso Motsoeneng<\/a><\/span><\/p>\n<\/p><\/div>\n