ANCYL congratulates Ramaphosa on 'successful investment conference'

2018-10-27 18:36
President Cyril Ramaphosa. (Leon Sadiki, City Press)

President Cyril Ramaphosa. (Leon Sadiki, City Press)

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The ANC Youth League (ANCYL) has congratulated President Cyril Ramaphosa for hosting a successful investment conference.

"The [ANCYL] understands that this form of investments comes into the country in the form of pledges made by a number of private sector companies in order to inject some much-needed investment into the economy and possibly create new job opportunities," provincial secretary Thanduxolo Sabelo wrote in a statement on Saturday.

This comes after the president announced an amount of R290bn in investment pledges to South Africa at the summit held at the Sandton Convention Centre on Friday.

The ANCYL urged the investors to prioritise job creation for the youth.

"We also encourage that the private sector ensures set asides for young people with a specific focus of ensuring that young people get business opportunities," Sabelo said.

"This will also ensure that young people participate in the main stream economy of our country guaranteeing much-needed jobs in our country," he added.

READ: R290bn! The investment strike is over, declares Ramaphosa

The ANCYL also cautioned the president to monitor the implementation of pledges in South Africa to avoid the exportation of jobs to other countries at the expense of South Africa.

This is one of the many initiatives by Ramaphosa's new dawn to boost the economy of South Africa.

Ramaphosa on Thursday launched a multi-billion-rand train plant in the City of Ekurhuleni, that was described as an "engine for economic growth".

The manufacturing plant - which is scheduled to deliver two new trains by December 2018, an additional nine by March 2019 and an estimated 56 trains over the next two years - is addressing the issue of youth unemployment according to the president.

"The majority of people who work her are below 35 years; that is fantastic because it addresses youth unemployment," he told investors at the launch of the Gibela Manufacturing site in Nigel, Gauteng.

Investments from  Vedanta, Mara and Aspen, to name a few, are examples of the pledges made to South Africa making it an investment destination choice, according to Ramaphosa.

"Today marks an important milestone along our journey of establishing South Africa as investment destination of choice," Ramaphosa said in his closing remarks at the 2018 Investment Summit.

Read more on:    ancyl  |  ramaphosa  |  cyril  |  youth unemployment

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