President Ramaphosa eyes investment opportunities at G7 Summit

As President Cyril Ramaphosa will be heading to the Federal Republic of Germany on Monday, for the G7 Leaders’ Summit, his key focus lies on investment opportunities for South Africa.

Ramaphosa got the invitation from the host, Chancellor Olaf Scholz, for being a non-member of G7.

“Alongside the G7 member states, invited non-member states that will participate in the Summit are the republic of South Africa, the Republic of Argentina, the Republic of India, Indonesia and Republic of Senegal,” Presidency said in the issued statement.

South Africa as the regular invitee will participate in two outreach sessions on the Summit.

According to Ramaphosa, this will be a working lunch on “investing in the future” , where the issues of climate, energy and health will be discussed, followed by a working session titled “Stronger Together” , where the summit will address food security issues and advancing gender equality,.

In a statement, Ramaphosa said, participation in the 2022 Leaders’ Summit presents an opportunity for the country to highlight the concerns of developing countries and to advocate for the continued global attention for equitable distribution of resources.

The statement further read that, G7 accounts for 10% of world’s population and accounts for approximately 40% Gross Domestic Product(GDP).

G7 is short form for Group of Seven, this means that seven developed countries in the world are grouped together, these are inclusive; Canada, France, Germany, Italy, Japan, United Kingdom and the European Union.

It was formally established in the year 1975.