South Africa’s economy is ready for a boost as the United Arab Emirate pledged to invest $10bn in the South African economy. This was disclosed by the Presidency on Saturday.
The pledge will help sustain Cyril Ramaphosa’s ambition of attracting investment of up to $100 billion in the South African economy.
Similarly, South Africa had also gotten a similar commitment from Saudi Arabia with a focus on energy during a visit by the South African President to the middle east.
Some of the sectors for which the ten billion dollars will be invested are tourism, mining among others.
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