Ford to invest nearly R16bn in SA economy
President Cyril Ramaphosa says the R15.8 billion investment announced by US motor giant Ford Motor Company in Tshwane on Tuesday is a sign of confidence in the South African economy.
The investment by Ford, which is the largest in the history of the local automotive sector, is expected to create some 10 000 new jobs.
The president was speaking at the Tshwane Automotive Special Economic Zone at Ford Silverton on Tuesday morning.
Ramaphosa said the investment is shows the company is prepared to expand and grow its business interests in the country.
"But it is also a great demonstration of confidence in our country. If they didn't have confidence in our ability to be able to ensure that this investment would work for them, they would have taken it somewhere else.”
Ramaphosa told officials from the motor company that he is pleased that small businesses and surrounding communities will also benefit from the investment.
President @CyrilRamaphosa visits #TshwaneAutoSEZ at Ford Silverton #InvestZA https://t.co/15mcSj1xMA
— Presidency | South Africa 🇿🇦 (@PresidencyZA) February 2, 2021
