Deputy Minister in the Presidency, Kenny Morolong, has called on business leaders to invest in the South African economy.
“We invite business leaders to invest in South Africa for the long-term. I believe that the partnership between India and South Africa has the potential to drive economic growth, investment and job creation. We look forward to working with Indian investors and businesses to enable the realisation of our mutually beneficial priorities and unlock new opportunities for cooperation and growth,” he said.
The Deputy Minster was speaking at the 20th edition of the Confederation of Indian Industry (CII) Africa India Conclave in India on Wednesday.
“I am delighted to be here today at the CII Africa India to share South Africa’s G20 priorities. The partnership between India and South Africa is a vital one, with both countries sharing a deep history and cultural ties. We believe that our countries can learn from each other and benefit from increased trade and investment. India is a key player in the global economy, and we are eager to tap into its expertise and investment opportunities,” the Deputy Minister said.
In his address, the Deputy Mnister said that with South Africa heading the Presidency of the G20 in 2025, the country recognises and appreciates India’s 2023 G20 leadership “for leading from the front in how to elevate Global South priorities within the G20”.
Morolong commended the strides made by India in digital transformation, climate finance, and deepened engagement with Africa and the Global South.
“South Africa builds on that legacy with an African lens. As a key player in the global economy, India’s growing influence and investment opportunities make the country an ideal partner for South Africa, perhaps more so now, as we navigate the G20 toward real outcomes. South Africa assumed the G20 Presidency on 1 December 2024, under the banner of ‘Solidarity, Equality, Sustainability’. This moment is historic. It brings power – and responsibility – for Africa’s voice in global leadership.”
He further said that South Africa has identified several key priorities that it believes are essential for promoting economic growth, investment and job creation. These include investment in infrastructure, which is critical for driving economic growth and development. Other priorities include investments in transportation, energy, and telecommunications infrastructure.
“We recognise the importance of trade facilitation in promoting economic growth and investment. This includes streamlining customs procedures, reducing bureaucracy, and improving logistics. We believe that digitalisation is a key driver of economic growth and development.”
South Africa was also committed to promoting sustainable development and addressing the challenges of climate change.
“As a country, we offer infrastructure, talent, and connectivity under the AfCFTA [African Continental Free Trade Area]. Our country is optimally positioned as an enabler to springboard into Africa’s 1.4 billion consumers and $3 trillion economy.
“Our G20 Presidency is both a platform and a promise. We stand for fair global systems. We stand for action, not words. We stand for Africa at the centre of development. We call on business, investors, and partners to join us, not just for November [when the country hosts the Leaders’ Summit], but for the long haul. South Africa is open. Africa is open. Let us build together,” he said. – SAnews.gov.za
