Afropulse Group CEO Phumzile Langeni on what makes SA attractive to investors

During the 10th BRICS summit, Phumzile Langeni, CEO of the Afropulse Group, shed light on South Africa's pivotal role in steering investments into Africa. Langeni emphasized the critical components in the facilitation of trade, pointing out that it hinges on both governmental policies and private sector collaborations. She noted that the government's role is to drive policies that spur investment, while the private sector engages in business-to-business interactions to evaluate competitive advantages, determine investment sectors, and quantify investment amounts. Langeni emphasized the importance of portraying South Africa as a competitive economy with a rich array of achievements. She highlighted the country's sophisticated financial services, extensive market reach, and robust infrastructure as key attractions for potential investors. Despite facing challenges, Langeni mentioned that South Africa is proactively addressing feedback from investors to enhance its investment climate. President Cyril Ramaphosa's administration secured approximately $35 billion in investments within a month, with a five-year target of $100 billion. Langeni expressed cautious optimism about potentially surpassing the target within the stipulated timeframe, citing the need for steady economic readiness to accommodate substantial investment inflows. She attributed investors' growing confidence in South Africa to recent political and economic reforms that have revitalized optimism and attracted both local and international investors. The prevailing sentiment around South Africa is one of positivity and eagerness to capitalize on the conducive investment environment.