Ricochet News

Coega welcomes the appointment of the special investment envoy

Apr 20, 2018
Coega welcomes the appointment of the special investment envoy

The Coega Development Corporation (CDC) has welcomed the appointment of the investment envoy introduced by the President of the Republic of South Africa, Cyril Ramaphosa, in a bid to generate at least $100 billion in new investment over the next five years.

The president’s investment envoy consists of the former Finance Minister Trevor Manuel, former Finance Deputy Minister Mcebisi Jonas, the executive chairperson of Afropulse Group, Phumzile Langeni and the chairman of Liberty Group and former CEO of Standard Bank – Jacques Marie. 

The envoy will report directly to the president and their work coordinated by the newly appointed economic adviser‚ economist Trudi Makhaya.

“The Coega SEZ as a Foreign Direct Investment destination is looking forward in working closely with the team to ensure that we attract investment to both regional and national economy,” says Dr Ayanda Vilakazi, CDC Unit Head: Marketing, Brand and Communications.

As indicated, the aforementioned group will be travelling to major financial centres in Asia, Middle East, Europe and the Americas to meet with potential investors as well Nairobi, Lagos as well as from Dakar to Cairo. According to Ramaphosa, the investment envoy is part of a broader push by government to advance economic integration in Southern African region and across the world.

“The CDC is enthusiastic about the new venture the investment envoy is taking and strongly encourages economic integration locally and beyond the borders of South Africa especially with emphasis placed on more effective use of industrial incentives and local procurement requirements the CDC has to offer investors,” concludes Dr Vilakazi.