U.S investors warming up to South Africa?

The past week was a pivotal one for South Africa's trade and investment prospects with the United States as the country hosted business and government officials from both nations at the AGOA Summit in Johannesburg. Simultaneously, CEOs of leading companies in South Africa were in New York to court investors at the SA Tomorrow Conference, now in its 10th year. Ian Williamson, the CEO of Old Mutual, recently spoke with CNBC Africa to share insights from the conference. With a record turnout of U.S investors and a positive tone set at the conference, Williamson highlighted the solid picture painted by South Africa's public sector delegation, which included the finance minister, the Reserve Bank governor, and the Minister for Public Enterprises. Discussions revolved around initiatives such as Project Volendela to address economic challenges and improve the electricity situation. Williamson noted that amidst global economic uncertainties, emerging markets, including South Africa, are perceived as attractive investment opportunities. Despite acknowledging the country's significant challenges, he emphasized the good engagement and interest generated at the conference, signaling a positive sentiment among investors. Geopolitical discussions also took center stage, with concerns raised about South Africa's non-aligned stance in the US-Russia-Ukraine conflict. While fund managers expressed no issue with a non-aligned position, steps taken by South Africa in recent months were viewed as potentially leaning towards the East, posing challenges. The SA Tomorrow Conference has been a significant platform for South African companies to engage with investors. Over the past decade, the event has facilitated fruitful discussions between business delegations from South Africa, government officials, and U.S investors. Williamson highlighted the efficiency of the conference in creating a forum for investors to engage with companies, streamlining the process of securing appointments and building relationships with shareholders. While the direct impact of the conference on increasing foreign investors in Old Mutual's share register is not definitive, it plays a vital role in the company's efforts to attract international investors. As South Africa continues to navigate economic and geopolitical challenges, events like the SA Tomorrow Conference play a crucial role in showcasing the country's investment opportunities and fostering relationships with global investors. The positive feedback and interest from U.S investors indicate a growing appetite for South Africa's market potential, setting the stage for further investment and collaboration in the future.