Selling SA: 'US business is hearing Ramaphosa's positive story'
President Cyril Ramaphosa is on a drive to encourage US investment in South Africa. The Money Show talks to Standard Bank's Sim Tshabalala, who is in New York.
President Cyril Ramaphosa meets Elon Musk in New York. Image: @PresidencyZA
Stephen Grootes interviews Standard Bank Group CEO Sim Tshabalala, and Dr Iraj Abedian, CEO of Pan-African Investments and Research Services.
President Cyril Ramaphosa's had a busy schedule since touching down in the US on Saturday.
The speeches he's delivered include addresses at the United Nations General Assembly and the New York Stock Exchange.
At the NYE, Ramaphosa engaged with business leaders as part of his drive to attract foreign direct investment for South Africa.
RELATED:
Ramaphosa tells NY Stock Exchange investors GNU renewed optimism in SA economy
'We did it in 14 days' - President Ramaphosa promotes GNU at NY Stock Exchange
He's also met with Tesla founder Elon Musk to discuss opportunities for the dollar billionaire to invest in the country where he was born.
Stephen Grootes gets some input from two local business leaders - he interviews Standard Bank Group CEO Sim Tshabalala, who's in New York, and Dr Iraj Abedian, CEO of Pan-African Investments and Research Services.
Tshabalala describes the message being conveyed by President Ramaphosa and the South African delegation as 'very positive'.
"Ramaphosa has been telling investors SA's on the move, that we're a great example for unity in a world that is fractured where there is deep globalisation on the go, that we are a country that is focused on both growth and unity."
"He's been saying that we're offering massive investment opportunities for those that are willing to look carefully, that there are 600 US companies that are in SA,. and that those companies ought to get the benefit of the structural reforms that are on the go here."
"American business IS listening. I had the privilege of attending three events, which were fantastic."
Sim Tshabalala, CEO - Standard Bank Group
Among the most pertinent issues up for discussion is Agoa, and the need to reinforce the economic relations between the US and South Africa, Tshabalala goes on.
He notes that the support in the US is bipartisan, with both the Republicans and the Democrats in favour of this.
While Dr Abedian commends the positive message being conveyed by South African leaders, he says it must go beyond a matter of pure marketing.
It is imperative that we maintain this momentum, he says.
"And what is important to maintain it is to turn this economy around. We do have a lot of positive development over the past 24 months and more specifically over the past six months...
"...but unless we convert what we've been doing it's more like marketing. which is something that unless you convert it to a deal... is just marketing."
Dr Iraj Abedian, CEO - Pan-African Investments & Research Services
Scroll up to the audio player to listen to the full discussion