South Africa-US business relations on the rise, Ramaphosa says

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Cape Town – South Africa is deepening its commercial relationship with the United States, President Cyril Ramaphosa said after participating in a Trade and Investment Dialogue with US businesses in New York last week.

Speaking on the sidelines of the United Nations General Assembly, Ramaphosa highlighted the “strong and expanding” nature of South Africa-US business ties, noting that the discussions involved companies already operating in South Africa as well as those considering investment in the country.

“All of the companies commended the reforms being undertaken by the government and the prospects for growth in our economy,” Ramaphosa said in his weekly newsletter addressed to South Africans.

The Trade and Investment Dialogue was convened by the US Chamber of Commerce, the world’s largest business advocacy organisation. The event brought together government officials and representatives from business and industry from both countries, underscoring a future-focused tone in bilateral economic relations.

Kendra Gaither, President of the US-Africa Business Center of the US Chamber of Commerce, emphasised the importance of the relationship, saying: “There is no economic relationship more foundational than the ties that the US and South Africa have. It is a vital relationship that merits dedicated attention.”

Ramaphosa pointed to the long-standing commercial engagement between the two countries, noting that “there are more than 600 US companies in South Africa” and that the country is “the second-largest African destination for US exports.”

As part of expanding ties, the President announced the establishment of the South Africa-United States Trade and Investment Forum, set to be inaugurated at next year’s South Africa Investment Conference. The forum aims to serve as a “vital bridge between the two countries,” Ramaphosa said.

Discussions also touched on reciprocal trade agreements and investment opportunities across multiple sectors, including critical minerals, agriculture, pharmaceuticals, healthcare, advanced manufacturing, and technology. “We want to expand the number of South African companies operating in the US market, thereby creating more jobs for Americans,” Ramaphosa added.

The President further highlighted the role of the African Growth and Opportunity Act (AGOA) in sustaining trade relations, noting that the US Chamber of Commerce supports its reauthorisation and calls it “the cornerstone of US-Africa commerce.”

Ramaphosa concluded that both South African and US businesses remain “deeply connected and are committed to mutually beneficial partnerships well into the future,” echoing Gaither’s remark that expanding commercial partnerships “happens one deal, one investment at a time.”

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