​Thembisa Shologu
The Gauteng Provincial Government (GPG) aims to attract at least R500 billion in investment pledges over three years.
Giving feedback on the South African (SA) delegation to the 55 World Economic Forum (WEF) in Davos, Switzerland, MEC of Finance and Economic Development Lebogang Maile highlighted some of the planned interventions as the province prepares for Gauteng's Investment Conference taking place in April 2025.
Addressing the Township Economy Concepts Foundation (TECSA) on Thursday at Ubuntu Kraal Lifestyle, Orlando West, Maile said the Investment Conference will be a platform to drive economic momentum and regional integration within the Southern African Development Community (SADC) region.
The South African delegation, comprising of government and the private sector, was led by President Cyril Ramaphosa, who provided insights in various panels and keynote addresses, outlining South Africa's value and place in the geopolitical global order.
"Team South Africa's participation at the WEF was fundamentally aimed at advocating for the value of regional consolidation and the continental and national agenda.
"It also aims to showcase high-growth sectors by highlighting opportunities in advanced manufacturing, the digital economy, and other transformative sectors that will position Gauteng as a prime investment destination. 
"In addition to this, the conference will provide a platform to enhance the business environment, asserting Gauteng's commitment to creating a streamlined, investor-friendly climate, reducing barriers to doing business, and fostering expansion opportunities," said MEC Maile. 
Maile said the WEF meeting took place just a month after South Africa's assumption of the presidency of the G20 which seeks to address major issues related to the global economy. 
President Ramaphosa also stated that South Africa intended to support the creation of a new engagement group, Township20 (TS20), to spotlight the potential of South Africa's township economies. 
"Outlining some of the priorities of the G20 for South Africa in Davos, President Ramaphosa stated that our country would be seeking support for the AfCFTA Adjustment Fund that will enhance inclusive growth, sustainability and regional integration. 
"In this regard, South Africa will look to consolidate various G20 initiatives related to Africa into a flagship agreement for cooperation that is focused on implementation of investments in productive sectors in Africa, in areas such as infrastructure," he said.
The Township Economic Development Act (TEDA), which was passed in 2022 and is currently under review, has remained a critical instrument in the development of township enterprises both qualitatively and quantitatively. 
Maile highlighted that the township economy in South Africa generates approximately R200 billion annually. 
"Through the Township Enterprise Fund (TEF), as well as other mechanisms including linking Gauteng township manufacturing enterprises to the Black Industrialist Fund (BIF), over R1 billion has been invested in the township economy. 
"With regard to the BIF, which aims to strengthen the productive capacity of township enterprises, approximately R1 billion has been spent by the Industrial Development Corporation (IDC) on Gauteng township entities," said the MEC.