Foreign direct investment projects
The TIPS FDI Tracker monitors foreign direct investment projects on a quarterly basis, using published information. The total investment value from projects captured this quarter was R68.9 billion. Projects captured in the fourth quarter are a mix of those announced at the 2020 Investment Conference and others identified outside the conference.
The third South African Investment Conference took place in November 2020 against the backdrop of the COVID-19 depression. It picked up 50 pledges from foreign and local companies, totalling approximately R109 billion. Of these, 21 pledges totalling R36.1 billion came from foreign companies. As with previous conference pledges, some of the investments are already in the pipeline, rather than entirely new projects. The FDI Tracker for quarters three and four 2020 will provide a detailed analysis.
Powerfuels are synthetic gaseous or liquid fuels based on renewable hydrogen, which is hydrogen obtained by the electrolysis of water using renewable electricity. Powerfuels are therefore a renewable alternative to fossil fuels (as their use avoids net emissions of CO2), to be used in sectors which may be difficult to decarbonise and may not be easily driven directly by renewables-based electricity.
On 19 February 2020, the National Treasury released the Draft Public Procurement Bill (“Draft Bill”) for public comments. The overriding purpose of the Draft Bill is to introduce a single regulatory framework for local, provincial and national government and state-owned enterprises; and to create the necessary institutions to ensure the integrity of the procurement system and to address potential violations. The Bill also replaces critical provisions in the existing Preferential Procurement Policy Framework Act of 2017 relating to the scoring and award of government tenders.