By Akani Nkuna
President Cyril Ramaphosa says South African CEOs have a vital role to play in driving inclusive economic growth at home and across the continent.
Addressing a gala dinner hosted by Investec in Sandton on Tuesday as part of the G20 outreach programme under the Coordination Mechanism for Economic Development (COMED), Ramaphosa said South Africa’s economic outlook is improving, citing encouraging employment figures, a projected primary budget surplus, and progress in reducing sovereign debt.
“As South African executives, you have a critical role to play in efforts to drive inclusive growth across our continent and across the globe,” he said.
He emphasised that South Africa is well-positioned to facilitate investment and trade across Africa, urging CEOs to leverage the country’s capabilities and expand its investment footprint.
Opportunities, he said, are vast—driven by businesses that are “innovative, adaptive, and skilfully navigating enormous challenges.”
Ramaphosa is expected to meet African Heads of State on Friday, 21 November, as part of the G20 engagements, where he will promote South African companies and strengthen economic ties aimed at advancing continental development.
“This will be an opportunity to reaffirm the commitment of South African companies to the development of our continent,” he said. “We will reiterate our shared responsibility to create conducive and enabling conditions for doing business in each other’s countries.”
He highlighted the African Continental Free Trade Area as a key driver of market expansion, regional integration, and value-chain development.
With Africa’s population of more than 1.4 billion and a combined GDP of about $3.4 trillion, Ramaphosa said the continent’s growth potential is “inevitable,” urging CEOs to seize the opportunities.
“As Africa grows and prospers, so South Africa will grow and prosper. We are calling on South African companies to be part of setting our country and our continent on a new economic trajectory,” he said.
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