Ramaphosa Courts Investment as South Africa Faces Iran War Headwinds

President Cyril Ramaphosa pitched South Africa as a reform-driven investment haven at a time of increasing global uncertainty as he set a target of attracting 3 trillion rand ($177 billion) of capital to the country over the next five years. He increased this figure from 2 trillion rand in a speech late Tuesday.

Improving economic growth, slowing inflation and sweeping reforms position the country as a “credible” destination for investors, Ramaphosa said at the South Africa Investment Conference in Johannesburg on Tuesday.