- African Growth and Opportunity Act
TRALAC - Trade Law Centre
You are here: Home/News/Article/South Africa: JSE delegation visits US to promote South Africa as an investment destination

South Africa: JSE delegation visits US to promote South Africa as an investment destination

South Africa: JSE delegation visits US to promote South Africa as an investment destination
Published date:
Tuesday, 11 October 2022
Schalk Burger

A delegation from the Johannesburg Stock Exchange (JSE), along with a high-level delegation of South African business leaders and public sector representatives, visited New York this week to promote the country as a favourable investment destination to US-based institutional investors. 

The South African delegation hosted the South Africa Macro Seminar in New York, where discussions focused on the importance of boosting bilateral trade and economic cooperation between the two countries in the wake of the Covid-19 pandemic.

“South Africa has a robust investment case offering attractive opportunities across a range of sectors and asset classes. The JSE has an opportunity to encourage and facilitate further growth in investment flows between the two countries. The structural reforms that South Africa is implementing have strengthened the investment case for our country,” said JSE CEO Dr Leila Fourie.

The US is South Africa’s third-largest trading partner after China and the European Union, with more than 600 US companies operating in South Africa in a range of sectors, including manufacturing, technology, finance, insurance and wholesale trade.

According to the Department of Trade, Industry and Competition, the US accounts for 17.4% of total South African outward foreign direct investment to the world, and the US ranked as the second-largest destination for South Africa’s exports globally in 2021.

Further, the delegation gave investors an update on the progress made so far by South Africa in implementing its Economic Reconstruction and Recovery Plan and Operation Vulindlela – two key initiatives that are considered critical to stimulating economic growth and attracting investment.

In September, South African President Cyril Ramaphosa met with US President Joe Biden in Washington DC, where the two leaders agreed to establish a joint task force on trade and investment to expand bilateral economic ties between the two countries, the JSE pointed out.

The Presidents also affirmed their commitment to the just energy transition and agreed that South Africa required more funding to transition from fossil fuels to clean energy.

Meanwhile, in 2023, South Africa will host the African Growth and Opportunity Act (AGOA) Forum, which will map the next phase of Africa-US trade relations to ensure that AGOA is beneficial to both the US and South Africa, the JSE said.

Read related news articles

Nigeria: US to 'create jobs for Africans through trade, investments in tech, infrastructure'

The United States govern­ment has expressed its willingness to create jobs through increased trade and investment in sectors such as agriculture, technology and infrastructure, as well as boost innovation and elevate the living standards of mil­lions of Africans. The U.S. Consul General, Will Stevens, disclosed this at the Africa Social Impact Summit 2023, themed: “Global Vision, Local Action: Reposi­tioning the African...

10 August 2023

How to drive US investment to Africa - Opinion

When it was established during the Obama administration, the President’s Advisory Council on Doing Business in Africa—or its acronym PAC-DBIA—was an important initiative, and it still is highly relevant. After all, the body was charged with providing recommendations to the president of the United States through the secretary of commerce on how to increase the U.S. commercial presence in Africa. Who better to provide advice than some of...

17 June 2023

Ghana trade minister calls for strategic US investment in African agribusinesses

The Trade and Industry Minister, Alan Kyerematen, has advocated for intensive investment in the agricultural sector as part of major plans to economically empower the African continent. The Minister made this pronouncement during the recent summit of US- African leaders in Washington DC. The US-Africa Leaders’ Summit was anchored on the shared values of fostering new economic engagement; reinforcing the US-Africa commitment to democracy...

20 December 2022

US seeks more investment opportunities in Africa

The US government is exploring ways to expand trade and investment opportunities in Africa, in a bid to scramble for the control of the continent’s raw materials with other world’s powerful nations such as China and Russia. The US Deputy Assistant Secretary of State Akunna Cook said the country has yet to deepen its presence in Africa, which has a population of about 1.3 billion people.  “We have been behind the curve for...

25 February 2022

Opinion: Foreign investment is Africa's best shot at growth, but its share is still pitiful

US Secretary of State Anthony Blinken's visit to Kenya, Nigeria and Senegal in November 2021 was a rare event for an administration's first year, cautiously signalling the US's aim to reconnect with Africa and to recover confidence in the former's commitment to democracy. With various promising moves in the pipeline, such as the appointment of a programme head for the Prosper Africa initiative, there may be movement with the African...

22 January 2022

Messe Frankfurt ready to take Africa's clothing expos to next level

Messe Frankfurt, the third largest trade show organiser in the world, announced on Friday that it will be taking over the South African-based trade shows Source Africa and ATF (Apparel, Textile & Footwear). Messe Frankfurt takes over from LTE, which has organised of Source Africa and ATF in the past. LTE has been organising events in the clothing and textile industry for more than 25 years.   According to William Scalco, a partner...

09 September 2017

Major Mauritian delegation to Source Africa

More than 1,500 professional decision makers are expected to arrive at Cape Town's CTICC on 8 and 9 June, 2016, for Source Africa, which will feature more than 180 exhibitors interested in expanding their exports. Countries represented include: South Africa, Mauritius, Lesotho, Kenya, Egypt, Madagascar, Tanzania, Ethiopia, Nigeria and Zimbabwe. Source Africa will bring together manufacturers, buyers, suppliers and services providers in one...

26 May 2016

You are here: Home/News/Article/South Africa: JSE delegation visits US to promote South Africa as an investment destination