Pretoria - The World Economic Forum on Africa (WEFA) taking place in Durban till Friday shows that South Africa continues to be a gateway to the rest of Africa, says Finance Minister Malusi Gigaba.

Mr. Gigaba who was recently appointed to the crucial post is part of the South African government delegation to the WEFA meeting, which is being led by President Jacob Zuma and his deputy Cyril Ramaphosa.

An unprecedented number of delegates is attending this year's meeting which is expected to find solutions to some of the economic challenges facing Africa in a global contest. President Zuma urged delegates on opening day to ensure that they leave Durban with concrete plans on how to resolve some of the continent's pressing issues.

The gathering is also being used by government and business to woo investors and cement existing relationships, SA News highlights.

Speaking to reporters at the Inkosi Albert Luthuli Convention Centre, Minister Gigaba reiterated his earlier assertions that despite the recent two downgrades of South Africa's sovereign credit to sub investment grade, the country's economy remains vibrant and is the most advanced on the continent.

He said South Africa was alive with possibilities and the country was doing all it can to show that it is open for business.

South African remained focused in managing it's fiscus in a prudent manner and Treasury would continue to implement structural reforms in the economy, he said.

Government believed the South African economy would continue to grow and this would expand the revenue base in order to increase investment in social and economic expenditure, the Minister said.

He said the main focus for government at the moment was to achieve and implement inclusive growth, something which is also in line with the WEFA theme for this year.

The Durban International Convention Center (ICC) is the venue of the three-day event that brings together more than 1,000 business leaders from across the globe and is expected to also attract Heads of State and Government from across Africa.

Presidents from Mauritius, Uganda, Zambia, Mozambique, Namibia, Swaziland and Ghana have confirmed their attendance.