Cyril Ramaphosa urges Indian investment in South African reforms

President Cyril Ramaphosa has called on Indian businesses to increase investment in South Africa, highlighting economic reforms in the energy, mining, agriculture, and digital sectors. Speaking at a business leadership roundtable in New Delhi, Ramaphosa noted that over 150 Indian companies have already invested more than $10 billion in the country, creating over 18,000 jobs. He positioned South Africa as a strategic gateway for Indian companies looking to access the broader African market.

Amidst these investment drives, business leaders are emphasizing the need to institutionalize South Africa’s current reform momentum. Busi Mavuso, CEO of Business Leadership South Africa, stated that the country must enshrine its reform processes in law to ensure stability beyond Ramaphosa’s leadership. While recent improvements in electricity supply, credit ratings, and the strength of the rand have signaled progress, concerns remain regarding political continuity and the long-term impact of reducing government dominance in the economy.