Ramaphosa to woo investors on sidelines of G7 summit in Canada

President Cyril Ramaphosa and a business delegation will head for Quebec, Canada this weekend to attend a G7 Leaders’ Summit Outreach that focuses on the economy and health of the oceans.

Among African nations, the leaders of Kenya, Senegal, Rwanda and the Seychelles have been invited to participate in the outreach section of the summit, which brings together the leaders of seven of the world’s richest countries. 

In a statement, the presidency said that Ramaphosa would use his time in Canada to engage with investors and business people in Toronto. 

The president previously said the invitation to attend the summit was a sign of renewed confidence in the country.

'Going where the money is'

"Very soon we will be travelling to the G7 in Canada. We have been invited after a seven-year lull. They said to us, 'Come and talk about South Africa'," Ramaphosa said in late May, at a gathering of professionals and academics in Johannesburg.

"We have decided that we are going where the money is. We are going there to drive investment," he said.

Ramaphosa announced in April that South Africa would host a major investment conference in August or September 2018, and raise over R1trn in new investments over five years to kickstart the economy. 

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Since then he has made a point of meeting investors during foreign trips. 

 "[The] G7 Leaders’ Summit Outreach provides an opportunity for the country to contribute globally to the management of the oceans, seas and coastal areas within an integrated environmental, economic and social approach," added the Presidency.