Science and Technology Minister, Naledi Pandor, says South Africa will see a raise in investments and an overall boost to the economy, after the announcement that the country and Australia will share the location for the world's most powerful radio telescope.
The Square Kilometre Array's scientific consortium made the announcement in Amsterdam on Friday.
Pandor says SMME's will be the major beneficiaries of the multi-billion rand project.
Meanwhile, President Jacob Zuma congratulated Pandor and her team on Friday for winning the right to co-host the SKA telescope with Australia.
He said the achievement was possible because of the African Union's endorsement and support from partner countries, including Botswana, Ghana, Kenya, Madagascar, Mauritius, Namibia and Zambia.
Earlier, the ANC said it would also put South Africa in good stead to advance to an inclusive information society.
Construction of the SKA is expected to cost about 1.5 billion euros, and the SKA consortium is expected to spend about 100 million to 150 million euros a year to operate and maintain the telescope.
