Addressing The Nation - Letter From The President

Deepening Our Trade and Investment Ties Across Africa

In his letter to the country, penned on 12 May, His Excellency Cyril Ramaphosa focused on deepening trade and investment ties across Africa – as we have done in this issue of Public Sector Leaders (please see the article on the AfCFTA).

This week President Ramaphosa is attending the Africa CEO Forum in Abidjan, promoting South Africa’s potential as a premier investment and trade destination. The annual event brings together approximately 3 000 CEOs, heads of state and investors to explore potential business leads, partnerships and opportunities. His Excellency notes that this year the Forum takes place at a time of disruption in the global economy, characterised by geopolitical tension, trade wars and conflicts that are causing instability in key shipping corridors – which has resulted in South African businesses actively exploring new market opportunities.

“South African investments in other African countries have a long history. These investments have grown and diversified from mining into sectors such as construction, IT and telecommunications, healthcare, financial services, retail and the green economy.

Since the advent of democracy in 1994, our government has implemented several initiatives to promote trade and investment elsewhere on the continent, including partnerships and trade agreements. We are witnessing the benefits of these efforts. The latest trade statistics published by the SA Revenue Service point to increased exports to countries in the region, like Botswana, Eswatini, Lesotho and Namibia, as well as with the rest of Africa.

The African Continental Free Trade Area (AfCFTA) is creating a more predictable and conducive environment for business to thrive across borders. Our businesses must seize this opportunity even as the processes of harmonising regulations continues. We are determined to use the longstanding presence of South African companies on our continent to expand trade and investment with fellow African nations,” – President Ramaphosa.

His Excellency goes on to confirm that South Africa is a leader in digital innovation on the continent and one of the leading incubators of tech start-ups and that The World Intellectual Property Organisation ranks South Africa second among economies in sub-Saharan Africa in the Global Innovation Index.

“The Government of National Unity aims to position South Africa as a premier trade and investment destination. We are working to make our economy more competitive by reducing the cost of doing business, improving our infrastructure and investing in skills development. We are reforming our visa regime to attract skills and promote tourism in South Africa."

“We are using our G20 Presidency to amplify the continent’s voice and focus global attention on Africa’s economic potential. We are prioritising inclusive global cooperation, a just and equitable economic recovery and promoting long-term environmental resilience."

“South Africa is greatly encouraged by a new wave of continental business expansion. We are forging ahead to deepen investment and trade with the rest of the continent in a manner that contributes to shared prosperity for all Africa’s people,” –President Ramaphosa.