JOHANNESBURG – President Cyril Ramaphosa said it was time for Africa to start manufacturing more of its own products, using the continent’s resources.
He said the continent should break away from the past.
The president opened the Africa Investment Forum in Sandton on Monday, saying local manufacturing needed to be bolstered by an investment pipeline.
Ramaphosa said Africa had managed to overcome its troubled past and must now move towards being a global leader investment.
“We want to produce our own food to feed our people, whether it’s chocolates that are produced in Ghana.”
He believed the continent offered a unique base to invest in. The forum has heard that 37 countries in Africa had growth of more than 3%.
“We want to see greater local beneficiation in our mining and minerals industries.”
Six of the world’s 10 fastest-growing economies are in Africa. However, South Africa’s growth stands at 0.5% for 2019.
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