Cabinet Highlights Positive Investor Sentiment by President and Deputy President

While in New York for the 79th United Nations General Assembly (UNGA), President Ramaphosa's program featured significant opportunities to bolster South Africa’s global investment profile.

The Cabinet has reflected on the positive investor sentiment generated by President Cyril Ramaphosa and Deputy President Paul Mashatile during their recent working visits to New York and London, respectively. These visits aimed to promote South Africa as a prime investment destination and advance the government’s priorities of inclusive economic growth and job creation.

While in New York for the 79th United Nations General Assembly (UNGA), President Ramaphosa's program featured significant opportunities to bolster South Africa’s global investment profile. Among these was his address to the New York Stock Exchange (NYSE), the world’s largest stock exchange by market capitalization, where he underscored South Africa’s potential as an attractive hub for foreign investment.

Simultaneously, Deputy President Mashatile spearheaded an investment drive in the United Kingdom (UK) and Ireland, focusing on expanding the UK’s investment footprint in South Africa. His address at the London Stock Exchange (LSE), Europe's most-valued stock exchange in 2023, emphasized South Africa’s strategic reforms aimed at creating favourable conditions for investors.

Speaking at a media briefing in Pretoria, Minister in The Presidency Khumbudzo Ntshavheni noted that both the President and Deputy President articulated the South African government’s National Unity priorities, with a strong focus on economic growth and job creation. They also emphasized ongoing structural reforms, coordinated through Operation Vulindlela by The Presidency and the National Treasury, aimed at fostering a more investor-friendly environment.

Government-Business Partnership Phase 2 Launched

In a significant development, the Cabinet welcomed the launch of Phase 2 of the Government-Business Partnership, which seeks to accelerate the country's path to inclusive economic growth through increased investment and rapid implementation of reforms. This partnership between the public and private sectors aims to address key issues such as load shedding, logistics improvements, visa reforms, and combating crime and corruption.

Minister Ntshavheni highlighted the success of Phase 1 of the partnership, during which over 130 CEOs of major South African companies pooled resources to help mitigate the electricity crisis, improve logistics and freight management, and support critical reforms.

The Cabinet’s reflections underscore a renewed momentum toward fostering economic stability and growth in South Africa, driven by both local and international investor confidence.