The Limpopo Investment Conference may have secured over R170 billion in pledges during its two-day sitting at the Ranch Hotel outside Polokwane, but it is the R9.5 billion deal with Saudi Arabia that has been hailed as a landmark achievement for both South Africa and the province of Limpopo.
Saudi Arabia, through its Ministry of Investment (MISA) and Ajlan & Bros Mining, signed a Memorandum of Understanding (MoU) with the Limpopo Provincial Government to invest R9.5 billion in the Waterberg region. The investment will go toward the establishment of a Platinum Group Metals (PGM) Smelter and a Base Metals Refinery (BMR) — a move expected to drastically reduce the export of raw minerals and promote local beneficiation and job creation.
Limpopo Premier Dr Phophi Ramathuba described the investment as a significant step towards industrializing the province.
“This is only the beginning because Waterberg is rich with minerals and full of potential,” said Ramathuba.
Limpopo’s economic potential
She commended the province’s efforts in mobilizing investment and reaffirmed that the conference is a platform to showcase Limpopo’s economic potential.
“The Limpopo Investment Conference exists to showcase the province’s dynamic and world-renowned investments such as Anglo American, Bokone, Ivanhoe, Exxaro, Glencore, MC Mining, Fetakgomo Tubatse SEZ, and Musina Makhado SEZ,” she said.
“The conference aims to attract new investments and activate sustainable and inclusive growth in sectors such as mining, energy, agriculture, and industrial development.”
Ramathuba further emphasized that partnerships between investors, businesses, and communities are key to building a prosperous and resilient provincial economy.
Province now cash flush
The investment pledges were led by Limpopo MEC for Economic Development, Environment and Tourism (LEDET), Mr Tshitereke Matibe, who said the province was on a growth trajectory.
Among the major investment pledges announced were:
Aganang Shopping Mall – R200 million
Abok Pharmaceutical – R264 million
MP3 Mining & Engineering – R1 billion
Doug Capital – R1.5 billion
Synergy Fuel Terminal – R2.4 billion
The Limpopo Investment Conference, themed “Limpopo Rising: Africa’s New Investment Frontier,” brought together investors, government leaders, and industry experts to explore opportunities for economic transformation across the province.
