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President Cyril Ramaphosa has called on US businesses to expand their investments in South Africa, emphasizing the country’s renewed focus on economic recovery and structural reforms.
Speaking at the SA-US Interactive Business Forum in New York, the President highlighted investor optimism fueled by South Africa’s Government of National Unity, formed after May’s general elections. He urged US investors to seize opportunities in sectors like energy, advanced manufacturing, and infrastructure, citing South Africa’s progress in structural reforms and investment targets.
“South Africa is on the road to recovery. Investments here are secure, supported by policy certainty and regulatory safeguards,” Ramaphosa said.
The President emphasized the country’s commitment to a Just Energy Transition and efforts to combat corruption while highlighting South Africa’s strategic importance in the global green energy revolution.
He praised the US as one of South Africa’s key trade partners, noting that bilateral trade totaled USD 17.6 billion in 2022 and stressing the value of partnerships like the African Growth and Opportunity Act (AGOA) in fostering trade and job creation. Ramaphosa concluded by assuring investors of the stability of their investments, saying, “South Africa is open for business. Together, we can achieve shared success and prosperity