Deputy President Paul Mashatile has urged UK investors to consider South Africa as a base for expanding into the broader African market. Speaking at a JP Morgan-hosted event in London, Mashatile invited British businesspeople to take advantage of South Africa’s strategic position as a gateway to Africa, citing the numerous economic opportunities available in the country.
“South Africa is often referred to as a gateway to the African market,” Mashatile told attendees. “I encourage UK businesses to visit our country for business purposes and to appreciate its beauty as tourists.”
Mashatile’s visit to the UK is part of a broader effort to strengthen trade and investment relations between the two countries. He expressed confidence that his visit would lead to new partnerships and increased collaboration between South Africa and the UK.
“Together, we can build a stronger, more prosperous future for our nations and contribute to economic prosperity in our regions,” he said.
Mashatile also stressed the importance of collaboration within the financial sector, noting that the global financial ecosystem is highly interconnected. He encouraged all stakeholders, from governments to private companies, to work together to address common challenges such as cybersecurity and financial inclusion.
“No single entity can address these complex challenges alone,” he said. “Collaboration is key to achieving better outcomes for all.”
The Deputy President reiterated the South African government’s commitment to creating a business-friendly environment that attracts investment and drives economic development. He pointed to existing trade in food and beverages between the two countries but acknowledged that the COVID-19 pandemic had slowed progress.
He also highlighted the growth of foreign companies setting up operations in South Africa and encouraged more UK firms to establish a presence. South Africa, he said, offers access to the free movement of goods, services, and people across the continent.
“We need to identify measures to speed up international trade and investment,” Mashatile added. “There is great potential to significantly increase the volume and value of products traded between our nations.”
