President Cyril Ramaphosa recently met with South African-born tech billionaire Elon Musk during a visit to New York, where the president is leading efforts to boost foreign investment in South Africa. This meeting occurred as Ramaphosa attended the 79th session of the United Nations General Assembly, where he is representing the country on various global issues and pursuing economic diplomacy.
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During the discussions, Musk and Ramaphosa focused on potential investments in South Africa, with particular attention on Tesla and Starlink, Musk’s satellite internet venture. South Africa has yet to launch Starlink, despite its availability in neighboring countries like Botswana and Mozambique. Regulatory hurdles, including black economic empowerment (BEE) compliance, have delayed its entry into the country.
Foreign direct investment
Ramaphosa’s meeting with Musk forms part of a broader push to attract foreign direct investment (FDI) as South Africa navigates economic challenges. The president is spearheading a R2-trillion investment drive to boost the country’s infrastructure, industries, and technological sectors. This effort aligns with South Africa’s upcoming hosting of the G20 summit and ongoing negotiations with the U.S. over the African Growth and Opportunity Act (AGOA).
Musk expressed interest in collaborating, though Starlink’s launch in South Africa remains uncertain, pending regulatory approval from the Independent Communications Authority of South Africa (ICASA). Musk stated that Starlink is “waiting for regulatory approval” on X, formerly known as Twitter.
Ramaphosa, meanwhile, continues to engage with global business leaders, aiming to secure more international investment and collaboration in sectors critical to South Africa’s growth, including technology and renewable energy. This meeting marks a promising step in strengthening ties with the global tech industry.
