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Ramaphosa hails record investment pledges as South Africa ‘turns a corner’

By Mandla Mpangase President Cyril Ramaphosa has declared that South Africa is entering a “new phase of growth”, following record-breaking investment commitments announced at the 2026 South Africa Investment Conference (SAIC) held at the Sandton Convention Centre in Johannesburg. Delivering his closing remarks to delegates, investors, and business leaders, Ramaphosa said the scale and scope of pledges made at this year’s conference provide compelling evidence that confidence in the country’s economy is strengthening. The conference marked the launch of a second investment mobilisation drive, targeting R2-trillion in new investments between 2026 and 2030. This builds on the success of the first drive, which exceeded its R1-trillion target. A total of R889.8-billion was pledged during the day-long conference on 31 March 2026. “The cumulative value of the pledges made at this conference is the highest we have achieved since the first South Africa Investment Conference,” he said, noting that the number of projects announced had also reached a new peak. A notable feature of this year’s commitments is the strong showing from domestic investors, which Ramaphosa said reflects growing confidence within South Africa’s own business community. At the same time, foreign direct investment has “increased phenomenally”, supported by participation from international firms and development finance institutions. The investments span all nine provinces and cut across key sectors including energy, mining, manufacturing, infrastructure and global business services. Among the headline commitments, Toyota will invest R10.4-billion in KwaZulu-Natal to support the automotive sector’s transition to cleaner energy. Sasol has pledged R60-billion for plant upgrades and new technologies in Mpumalanga and the Free State. At the same time, Valterra Platinum will expand mining operations in Limpopo to supply critical minerals for future-facing industries. Infrastructure and energy also feature prominently. South32 is investing R3.9-billion in rail upgrades linked to manganese mining in the Northern Cape and KwaZulu-Natal, while black-owned manufacturer Actom will inject R250-million into equipment to support electricity grid expansion. In the services sector, Teleperformance will invest R145-million in the Eastern and Western Cape, creating 2,600 jobs, while renewable energy company Mulilo has committed R14.8-billion to projects across multiple provinces. Ramaphosa emphasised that these commitments align with the government’s broader push to scale up infrastructure spending, describing it as the “largest infrastructure investment intervention” in South Africa’s history. Despite the positive momentum, the President acknowledged that significant work remains. Fixed investment currently stands at around 15% of GDP, and the country must double this level over time to achieve sustained economic growth. “There is a gap between improved sentiment on one hand, and greater capital deployment that translates to strong growth and jobs on the other,” he said. Central to closing that gap is the government’s structural reform agenda, which Ramaphosa described as “irreversible”. The reforms, coupled with a robust regulatory framework and adherence to the rule of law, are aimed at providing certainty and predictability for investors. He also highlighted the importance of South Africa’s constitutional democracy, noting that the rule of law underpins economic development, protects rights, and ensures accountable governance. Ramaphosa credited the private sector as a key partner in the country’s economic recovery, pointing to longstanding collaboration between business and government since 2019. Initiatives such as the Youth Employment Service have created more than 200 000 work opportunities, while joint efforts during the Covid-19 pandemic and the Economic Reconstruction and Recovery Plan helped stabilise the economy. The evolving Government Business Partnership, now in its third phase, is focused on improving logistics, securing energy supply, and tackling crime and corruption – issues that remain critical to investor confidence. On this front, Ramaphosa outlined a series of interventions to strengthen the criminal justice system, including the establishment of a new reform initiative targeting organised crime, corruption, the illicit economy, and illegal firearms. He also confirmed that new regulations under the Public Procurement Act will be finalised soon to combat corruption in state procurement. Reflecting on the past decade, Ramaphosa said South Africa has made significant progress since the era of state capture and economic stagnation. “Today, the green shoots of renewal are emerging. We have turned a corner, and confidence in our economic trajectory is rising,” he said. He urged delegates to convert pledges into tangible projects and long-term partnerships that drive inclusive growth and job creation. “You are not merely investing in an economy,” he said. “You are investing in a nation determined to grow, transform, and succeed.”

South Africa sets the stage for broad-based, investment-led growth

News / By Tasez

By Mandla Mpangase South Africa is entering a new phase in its economic trajectory, with President Cyril Ramaphosa positioning the country as a reform-driven, investment-ready destination focused on inclusive and sustainable growth. Addressing more than 1 000 delegates from over 50 countries at the sixth South Africa Investment Conference on 31 March 2026, Ramaphosa made it clear that the government’s priority is not only to attract capital, but to ensure investment translates into tangible, broad-based benefits. “We are creating the conditions for investment-led growth that is broad-based, inclusive, and durable,” he said. “Investment conferences such as this are an opportunity for us to showcase the attractiveness of investment opportunities in our country to domestic and international investors. By connecting investors with local opportunities, we are able to attract foreign direct investment (FDI). They also facilitate strong partnerships by bringing together governments, business, banks, and development finance institutions.” Gauteng, the country’s economic hub, provided a fitting backdrop. As the largest contributor to national GDP, the province remains central to South Africa’s investment proposition. South Africa’s post-1994 journey has been marked by resilience. The country has navigated global and domestic shocks, from the financial crisis to state capture and the COVID-19 pandemic, while maintaining institutional stability. Now, that resilience is being translated into growth. Under the Government of National Unity formed after the 2024 elections, the economy has recorded four consecutive quarters of expansion into early 2026, alongside stabilising inflation and improved investor sentiment. However, Ramaphosa stressed that credibility must be backed by delivery. “We know that investors reward execution, not just commitment,” he said, highlighting a shift toward measurable reform outcomes. Central to this effort is Operation Vulindlela, a joint initiative between the Presidency and National Treasury aimed at removing structural constraints to growth. Its focus is on reducing the cost and complexity of doing business across key sectors, including energy, logistics, water, and visas. Nowhere has reform been more consequential than in the energy sector. Following years of load shedding, the government has restructured the electricity market, unbundled Eskom, and opened the grid to private investment. The result is a rapidly expanding pipeline of renewable energy projects and improved energy security. Through these interventions, Ramaphosa said, “we have brought an end to load shedding and ensured a reliable supply of electricity”, a critical milestone for restoring investor confidence. Energy reform also underpins South Africa’s broader transition to a low-carbon economy. Opportunities in green hydrogen, electric vehicle manufacturing, battery storage, and critical minerals are expected to drive future growth, while aligning with global climate commitments. With its significant reserves of platinum group metals and other resources, the country is well-positioned to play a strategic role in global clean energy value chains. Importantly, the transition is being framed as inclusive. “We have been firm that the energy transition must be just and that it should leave no one behind,” Ramaphosa said. Infrastructure investment is another cornerstone of the growth strategy. Over the next three years, the government has committed more than R1 trillion to infrastructure development across transport, energy, water, and digital systems. “Infrastructure is the flywheel that propels growth,” Ramaphosa said, noting its role in reducing costs, improving productivity, and creating jobs at scale. The approach is designed to crowd in private sector participation. Reforms in logistics are opening rail and port operations to competition, while new public-private partnership frameworks and blended finance instruments aim to de-risk investment and accelerate delivery. In the water sector, a pipeline of projects worth more than R50 billion is being prepared for private investment. Beyond infrastructure, the government is emphasising inclusion. Investment projects are expected to incorporate local content, skills development, and community benefits, ensuring that growth is shared more widely. At the same time, South Africa’s empowerment framework is being refined to balance transformation with investment attraction. Mechanisms such as the Equity Equivalent Investment Programme allow multinational firms to contribute to development without altering ownership structures. “Our overriding objective is to support firms with compliance, and to embrace empowerment as a meaningful investment in South Africa’s long-term economic stability,” Ramaphosa said. The conference also marked the launch of a second investment mobilisation drive, targeting R2-trillion in new investments between 2026 and 2030. This builds on the success of the first drive, which exceeded its R1-trillion target. The new phase begins with a strong pipeline of 81 projects worth nearly R890-billion, expected to create more than 230 000 jobs. “This is not ambition for its own sake,” Ramaphosa said. “It is the arithmetic of what South Africa requires to achieve meaningful unemployment reduction and industrialise at scale.” As global uncertainty reshapes capital flows, South Africa is positioning itself as a stable, reform-oriented destination. While Africa continues to attract a relatively small share of global foreign direct investment, the country remains a leading recipient on the continent. “We are meeting at a time of uncertainty for the global economy. Geopolitical fragmentation, supply chain disruptions from conflicts and wars, and trade tensions are radically impacting global capital flows,” Ramaphosa noted. “In such conditions, South Africa presents a favourable proposition as a resilient, credible and reform-oriented investment destination with strong fundamentals.” Ultimately, the success of this strategy will depend on sustained implementation. “This is only the start of an era of new growth and dynamism for South Africa’s economy,” Ramaphosa said. The task now is to convert investment commitments into real projects and ensure those projects deliver lasting, inclusive growth.