JOHANNESBURG, March 7 (Xinhua) -- Microsoft announced on Thursday that the U.S. software giant will invest 5.4 billion rand (about 297 million U.S. dollars) in South Africa by the end of 2027 to expand its cloud and artificial intelligence infrastructure in the country.

Microsoft's Vice Chair and President Brad Smith made the announcement in Johannesburg at an event attended by South African President Cyril Ramaphosa on Thursday afternoon.

Smith said the latest investment builds on the company's 20-billion-rand investment over the past three years to establish South Africa's first enterprise-grade data centers in Johannesburg and Cape Town.

Speaking at the event, Ramaphosa welcomed the investment, stating that it demonstrates continued confidence in South Africa and its economy.

"They signal to the business and investor community that South Africa's economy continues to hold immense potential and that it is a favorable place to do business, where their investments are secure," he said. Enditem

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