Gauteng targets R300 billion in investments to boost economy

SANDTON - Economic Development MEC, Lebogang Maile, says the province is aiming to secure at least R300 billion in investment pledges at the Gauteng Investment Conference (GIC), to be held in Johannesburg.

The MEC was speaking during a media briefing on the state of readiness of the province to host the conference, to be held at the Johannesburg Stock Exchange, in Sandton, on 3 April 2025.

“Leaders across all tiers of government, including Minister of Trade, Industry and Competition, Parks Tau, Premier of Gauteng Premier Lesufi, and Johannesburg Mayor Dada Morero, will provide inputs at the conference. The keynote address will be delivered by the Deputy President, who also serves as the Leader of Government Business in South Africa, His Excellency, Paul Mashatile.  

“Of equal significance is the large contingent of leaders across the business and government sectors on the African continent, the African diaspora and the globe. With over 50 companies represented, the conference will be a convergence point of the world’s most important companies in various sectors,” Maile said.

The Gauteng province is of importance for South Africa’s economy and contributes at least 33% to the national Gross Domestic Product, and nearly 7% of sub-Saharan Africa’s output.

“The [GIC] is a transformative event in affirming the place of the Gauteng province in the continental economy. We are asserting that the development of Gauteng is in the best interest of South Africa, the Southern African Development Community and the continent broadly.

“Thus, investment in the economy of Gauteng extends beyond the confines of its provincial borders into other lands across the entire continent,” the MEC said.