CAPE TOWN, Mar 26 – President Cyril Ramaphosa says South Africa’s economy is showing clear signs of recovery, pointing to renewed investor confidence, sustained growth and structural reforms as evidence the country is “turning a corner.”
Speaking at the opening of new offices by Ninety One in Cape Town, the president described the investment as a strong signal of long-term confidence in the country’s economic outlook.
Ramaphosa highlighted several improving indicators, including four consecutive quarters of GDP growth, a stabilising national debt profile and three years of primary budget surpluses. He said these developments reflect a sustained effort to reform the economy and restore stability.
According to the president, global investors are increasingly viewing South Africa as an attractive emerging market, supported by strong institutions, consistent policy direction and a track record of reform.
The financial sector remains central to the economy, contributing more than 20% of GDP, generating around a quarter of corporate income tax and supporting nearly three million jobs. Government aims to further strengthen the sector and position South Africa as a global financial services hub for African and emerging market operations.
Ramaphosa also pointed to progress in key structural reforms, including improvements in energy supply, rail and port operations, and initiatives to attract private sector investment. He said reforms in the energy sector are enabling greater private participation, alongside plans to restructure Eskom and establish an independent transmission system operator.
Government plans to invest more than R1 trillion in infrastructure over the next three years, leveraging public-private partnerships to unlock additional capital and accelerate development.
He added that collaboration between government and business has been critical in stabilising state-owned enterprises and restoring governance following years of state capture.
Recent milestones, including South Africa’s removal from the Financial Action Task Force grey list and its first sovereign credit rating upgrade in nearly two decades, were also cited as signs of progress.
Ramaphosa described Ninety One’s expansion as a reflection of the country’s strong financial sector and talent base, emphasizing its potential role in enhancing South Africa’s global financial standing.
