South African president seeks foreign investors to revive economy

South African President Cyril Ramaphosa.

South African President Cyril Ramaphosa declared himself in economic 'repair mode' at a major conference Friday as he sought billions of dollars from foreign investors to haul the country out of recession.

The former union leader, who inherited a mismanaged economy from the scandal-plagued Jacob Zuma earlier this year, wants $100 billion (Sh10 trillion) of new investments over the next five years.