French companies announce 20bn rands of new investment at the South Africa Investment Conference 2019
On 6 November 2019, French companies announced 20 billion rands of new investment in South Africa with more than 3000 direct jobs to be created in the next 5 years in different sectors (energy, tourism, retail, mobility, general and agro-industry).
The announcement was made at the South African Investment Conference 2019. The companies behind the investments are Advini, Air Liquide, Alstom, Bolloré, Bureau Veritas, Kasada Capital Management, Leroy Merlin, Limagrain, Saint-Gobain and Total.
Around 400 French companies are present in South Africa, from highly internationalised groups to SMEs, and they directly employ around 65000 people in the country.
They invest with a long-term outlook, alongside South-African partners, while committing to BEE standards, in order to actively contribute to the socio-economic transformation of the country.
France shares the transformation agenda of President Cyril Ramaphosa. The structural reforms that are being undertaken to improve working conditions and business environments are designed to increase bilateral trade and investment, making our economic ties even more important.