Chinese tech sensation Jack Ma will deliver the keynote speech at a dinner to be hosted by President Cyril Ramaphosa on October 26 as part of the inaugural South Africa Investment Conference.

The conference will take place at the Sandton Convention Centre, in Gauteng, from October 25 to 27, in line with a commitment made by Ramaphosa during his State of the Nation Address in February.

The interMinisterial committee set up to oversee the conference confirmed Ma’s participation during a briefing on Thursday, presided over by Economic Development Minister Ebrahim Patel, Deputy Minister Madala Masuku and Presidential economic adviser Trudi Makhaya.

Ma, who is the founder of the giant Alibaba Group, met with South Africa’s President in August, where he reportedly offered advice on how South Africa could stimulate small business and create jobs.

The Internet entrepreneur famously promised US President Donald Trump that he would create a million American jobs, but later retracted on the basis that the evolving trade war between the US and China had made the promise impossible to fulfill.

Ramaphosa has set a five-year investment target of $100-billion and is scheduled to open the investment conference, where the case will be made for South Africa as an investment destination and where several “bankable projects” will be unveiled.

Investors have displayed wariness towards South Africa in recent years, owing to high levels of policy uncertainty and corruption. Ramaphosa has promised to address both constraints, but fresh concerns have emerged after the African National Congress indicated its support for a change to the Constitution to facilitate land expropriation without compensation.  

Earlier in the year, Ramaphosa appointed four investment envoys – Trevor Manuel, Mcebisi Jonas, Phumzile Langeni and Jaco Maree – who have since had 150 dialogues with both domestic and international investors in preparation from the conference.

As part of the formal proceedings, a series of breakaway session are planned to focus on investment opportunities in agriculture, agro-processing, mining and manufacturing, transport, information and communication technology, tourism, business process outsourcing, film, energy, water and venture capital.

The interMinisterial committee said the Investment Conference would seek to build on the Framework Agreement reached between government business and labour at the recent Jobs Summit and would also add impetus to the recently announced Economic Stimulus and Recovery Plan, which aims lift South Africa from it current low-growth trap.