South Africa’s investment potential highlighted by Brics Summit

South Africa’s investment potential highlighted by Brics Summit

August 24, 2023

The 15th Brics Summit’s impact on South Africa’s economy underscores the significant potential for local and international investors.

“When global audiences witness South Africa’s capacity to flawlessly cater for such a prominent summit, it amplifies the country’s credibility as an investment destination,” said Hamza Farooqui, CEO of Millat Investments.

Millat – which owns Hyatt House properties in Sandton and Rosebank close to where the event is taking place – has reported a 100% occupancy this week.

The company has hosted several fully subscribed side-line conferences and events at its Hyatt Regency Cape Town property and the Winston Hotel in Rosebank.

“As delegates from Brazil, Russia, India, China and South Africa converge on our shores, they should be embraced by warmth and unity. I believe our celebrated hospitality industry is poised to shine even brighter over the next few days and offer exactly that.”

Farooqui added: “As these leaders take back their experiences and narratives from this week, South Africa’s potential for foreign direct investment and collaborative ventures grows exponentially.

“With the world’s eyes on the nation, now is the opportune moment for the South African business community to present itself as reliable, innovative and ready for the next wave of global business partnerships.”

Farooqui also emphasised the long-term impact of the summit on South Africa’s esteem. “Beyond the immediate boost in occupancy rates, the Brics Summit must serve as an important marketing campaign for South Africa.

“The eyes of the world are upon us, and this is the time to highlight South Africa as a prime destination.”

He pointed out that the Summit wasn’t just a diplomatic event – it’s a spectacular showcase for South Africa.

“Every time we welcome such global events, it offers an unrivalled opportunity for our local hospitality sector to demonstrate our world-class service rich cultural experiences.”

Farooqui further highlighted the significance of painting South Africa in a favourable light.

“It’s not just about hosting the attendees for the week of the Summit; it’s about leaving a lasting impression that resonates long after the event concludes. The hard work, though, is only starting, stressing the importance of leveraging this global attention.

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