Des Erasmus
The United States has launched a SelectUSA “investment accelerator” to help South African companies expand into the US, new Ambassador Brent Bozell III has said.
Speaking at the BizNews annual investment conference in Hermanus, near Cape Town, this week, Bozell said Washington wants two-way capital flows to be a stronger part of the economic partnership between South Africa and America.
He said the initiative would “streamline access to US markets for major investors”, and allow South African companies to take greater advantage of America’s size and depth as an investment destination.
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“I encourage any interested business leaders to contact my team for more information and to discuss the ways we can support you in your investment journey. Keep an eye on our embassy website as well. We’ll have more information on this programme online in a few days,” he said.
Bozell said the programme was a correction to a relationship that has been dominated by US companies investing in South Africa.
A “healthy economic relationship”, he said, requires investment and opportunity flowing in both directions.
“Just as American companies are investing in South Africa’s growth and innovation, we’re eager for South African businesses and entrepreneurs to explore opportunities in the United States.”
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The accelerator is being presented under the SelectUSA framework, which promotes inbound investment into the United States, but with a specific focus on South African investors.
Bozell said it was a practical tool to turn political rhetoric about partnership into concrete “deals”.
He said the accelerator would guide local investors through US regulatory and market entry processes.
It would also offer a direct channel to the embassy team for project support.