Several companies express interest in investing in SA: Ramaphosa

Following the conclusion of the 18th BRICS Summit, President Cyril Ramaphosa revealed that numerous multinational corporations have shown interest in investing in South Africa. Ramaphosa attributed this enthusiasm to the country's ongoing economic reforms, stating that South Africa stands to gain significantly from these investments, which would generate employment opportunities and stimulate economic growth.

He further emphasized that the BRICS Summit offers a unique platform for direct engagement with international businesses. This engagement is facilitated through the BRICS Business Council and the South Africa India Business Leaders Roundtable. Ramaphosa highlighted that these discussions have led to a shared desire among BRICS nations for the implementation of local currency payment systems. Central banks within these countries have been actively discussing this matter and are optimistic about reaching an agreement.

Ramaphosa underscored the importance of enhancing trade within the BRICS bloc rather than opposing alternative payment systems or currencies. He reiterated that the BRICS Summit remains a valuable opportunity for South Africa to participate and benefit from these collective efforts.