Source: President of South Africa –
Ms Kendra Gaither, President of the US-Africa Business Center of the United States Chamber of Commerce,
South African Ministers,
Distinguished business leaders, friends,
Ladies and Gentlemen,
It is an honour to join you this evening under the auspices of the US Chamber of Commerce.
I wish to begin by acknowledging the depth of the partnership between South Africa and the United States.
This is a relationship defined not only by diplomacy but by the practical ties of trade, investment and shared innovation.
The United States is one of South Africa’s largest trading partners outside of Africa.
The US is a top source of foreign direct investment in South Africa, supporting hundreds of thousands of direct and indirect jobs in our economy.
More than 600 US companies are already invested and operating successfully in South Africa.
They are invested in areas as diverse as aerospace, mining and energy, consumer goods and finance.
These investments have built industries, created jobs and anchored long-term partnerships that have benefited both our peoples.
South Africa is equally proud that some of our own companies have established a footprint in the US, from chemicals and financial services to mining, hospitality and food products.
These firms are ambassadors of our entrepreneurial spirit, our innovation and our global competitiveness.
We have in our midst a number of leading South African companies that are eager to engage with their US counterparts to explore new areas of collaboration, joint ventures and investment.
We see this engagement today not only as an opportunity to deepen commercial ties but also as a platform to address the broader strategic imperatives that bind our economies together.
These imperatives include ensuring resilient supply chains, advancing the clean energy transition, securing access to critical minerals for the industries of the future, and fostering inclusive growth that creates jobs for young people in both our countries.
We do not take this relationship for granted.
We value the trust that American companies place in South Africa, and we are committed to ensuring that this partnership continues to grow.
We also recognise that the world is changing.
New challenges have emerged in our trade relationship, not least the reciprocal tariffs recently imposed on South African exports.
These measures have already disrupted supply chains and created uncertainty for both our exporters and American importers.
The reality is that such measures do not only affect one side. They ripple across industries and communities in both our countries.
South Africa wishes to deal with these issues constructively. We understand the concerns that have been raised by the United States and are willing to engage to find solutions that are mutually beneficial.
Our goal is simple: to sustain and expand trade flows, to keep our companies competitive, and to ensure that consumers and workers in both countries benefit from our partnership.
At the same time, we face the urgent matter of the African Growth and Opportunity Act – AGOA – which expires later this month.
AGOA has been the foundation of US-Africa trade for nearly a quarter of a century.
In South Africa, it has supported jobs from auto assembly plants to farms to high-tech manufacturing hubs.
Its expiry would not only undermine those gains, but also remove the link to the Generalised System of Preferences, which has been so critical to many of our exporters.
For this reason, I appeal for your support in advocating for its renewal.
Predictable, preferential access to the US market is vital not only to South Africa but to American companies who depend on reliable imports.
Our conversation this evening must also look beyond immediate challenges.
Africa is rising. The African Continental Free Trade Area is opening new horizons, creating a market of 1.4 billion people.
South Africa is ideally positioned as your gateway into this market.
We have the infrastructure, the financial systems, the legal and regulatory frameworks and the regional linkages to serve as a platform for US companies to expand into the continent.
South Africa is a country of 60 million people, but it is also as an entry point into a continental market of immense potential.
South Africa is reforming and modernising its economy.
We are addressing structural bottlenecks and diversifying our exports.
We are driving industrialisation so that we move beyond raw commodities into higher-value goods and services.
For US investors, this means opportunities not only in established sectors but in new and dynamic industries.
We see particular promise in agriculture, where we are expanding agro-processing and high-value food production.
There are opportunities in automotives, where we are transitioning to electric vehicles and battery production.
In green energy, our renewable energy endowments and platinum reserves offer unrivalled potential.
There is great potential in digital and technology-driven services, where our young, skilled workforce is driving innovation.
We see opportunity in pharmaceuticals and healthcare, where we have the manufacturing capacity to strengthen global supply chains.
In aerospace and defence, our advanced capabilities can complement US leadership.
Across all these areas, our focus is on value addition, sustainable job creation and skills development.
This is where our partnership can make the greatest difference.
I want to encourage greater collaboration between US companies and our universities, research institutions and training programmes so that we can jointly build the skills and innovation capacity needed for the future.
To provide structure and continuity to these efforts, I am pleased to welcome the establishment of a South Africa-US Trade and Investment Forum.
Its inaugural session will take place next year in South Africa, alongside our South Africa Investment Conference.
This Forum will allow us to engage more systematically to address obstacles as they arise and to pursue opportunities in a coordinated way.
I wish to acknowledge the role of the US Chamber of Commerce as it prepares to take over the B20 chairship.
During our hosting of B20, we focused on inclusive growth, support for small and medium enterprises, the digital transition and the green economy.
We encourage continuity with these priorities, as they speak to the challenges that all our economies face.
This evening, my message is simple: We want to secure partnerships that bring more US investment into South Africa, into renewable energy projects, digital infrastructure, advanced manufacturing, and the green hydrogen economy.
We want to see collaboration in life sciences and health innovation, areas where we have strong capabilities and untapped potential.
We want to build deeper partnerships in financial services, mining technology and automotive manufacturing, positioning South Africa as both a reliable production hub and a launchpad into Africa.
At the same time, we want to ensure that South African companies expand their presence in the United States, forging stronger links in areas like food and beverages, retail, creative industries and fintech.
These are companies that can add value, create jobs and deepen cultural and business ties between our countries.
We believe strongly that the relationship between South Africa and the United States is not defined solely by trade figures or investment flows, important as they are.
It is defined by a shared commitment to innovation, to entrepreneurship, to sustainable development and to inclusive prosperity.
This engagement is therefore about building a partnership that looks to the future, that is resilient and that adapts to the challenges of our time.
I thank you.