Hot off the success of R890-billion in investment pledges made at the South Africa Investment Conference last month, President Cyril Ramaphosa noted on Monday that most of the pledges were made by local firms, which he says signals to international investors that the South African economy is stable and strengthening.

South Africa’s new target seeks R3-trillion in new investments over the next five years, which Ramaphosa said was called “unrealistic” by some.

“Yet, building on the momentum that has been created, drawing on the efforts of all South Africans, there is no reason why we cannot achieve it,” he assured.

With global uncertainty and increasing competitiveness, Ramaphosa expressed confidence that the pledges made at the conference reflected renewed confidence in South Africa’s economy, particularly after years of stagnant growth, State capture and electricity instability.

“That we have been able to realise a record value in investment pledges despite this difficult climate is an indication of how far we have come. It is significant that a substantial share of the investment pledges announced at the 2026 conference were domestic in origin, and encompass a mix of new commitments and capital investments that had already been planned. Each of these investments – whether newly announced or in the pipeline for some time – is significant, because each required a deliberate choice. Each investment decision is shaped by the credibility and stability of the economic environment and expectations of return on investment,” he stated.

Local investment was important, the President said, as it displayed confidence from investors who understand South Africa’s conditions.

He also noted the importance of commitments made in industries that have been prioritised for faster economic growth and increased employment, such as mining, beneficiation, agro-processing, tourism, renewables and the digital economy.

Policy certainty, structural reform and transformation form part of government’s plan to increase investment.

“The reform and transformation processes will continue apace to resolve longstanding challenges not only in areas such as electricity, water and logistics. We will continue to foster transformation and reforms in various areas that will improve the lives of our people and continue to create a conducive environment for investment. We will continue to take decisive steps to root out corruption, to prevent extortion at construction sites and to break the back of the illicit economy,” Ramaphosa said.

In addition to investment drives, government is also looking to new markets and seeking to strengthen existing trade relations with one-on-one engagements.

Ramaphosa noted “valuable engagement” with US companies in South Africa, as well as an upcoming meeting with Spanish companies.

“As we reflect on the progress made over the last few years, and as we tally up the investment pledges that have been made to date, we must always look ahead. Our economy is starting to pick up pace, more jobs are being created and confidence is improving. Our economy is increasingly better positioned to take advantage of the technological shifts underway in the world. This bodes well for faster growth and greater investment,” he said.