President Cyril Ramaphosa and eight of his ministers, alongside governmental and business leaders, made the case for SA at the 55th Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland, last week.
The WEF is an exceptionally important gathering for the representatives of any developing nation. It sparks the conversations that shape the global economy and presents an unparalleled opportunity to make a pitch to multinationals, political leaders and stewards of global capital.
Our pitch — that SA is a jurisdiction that matters in world affairs, that we are open for investment and that this investment is an attractive proposition, that we have achieved laudable progress and that we have steadily growing evidence of that progress — was made by a delegation of political and business leaders who spoke confidently and with a single voice.
This unified voice was notable, but even more so was the attention with which it was met. SA’s presidency of the Group of 20 (G20) and the Business 20 (B20) and our improving economic outlook have led to a marked positive shift in global sentiment towards our country. Team SA was not alone in articulating our achievements and potential; global fund managers and banks highlighted SA as a country to watch in the year ahead. The country’s proactive approach to addressing structural challenges, particularly the energy crisis, has instilled confidence in the international business community.
Last year, before the elections and in the dark depths of load-shedding, the best we could do was to speak hopefully of brighter days to come. This year we could speak proudly of our accomplishments and of our plans for the future. When we outlined our bold ambition to deliver 3% growth this year, business and political leaders listened and took note. We now have the opportunity to translate that goodwill into durable partnerships with the rest of the world.
A common theme across the talks and discussions at Davos was the acknowledgment that this is a time of division, of fragmentation and of realignments in global structures. But it is for precisely this reason that this is the time to make our voices heard, to make our values known, and to make sure our aspirations and potential are widely recognised.
Ramaphosa’s special address to the WEF, a highlight of the week, articulated a vision of sustainable development and a renewed commitment to attracting foreign investment.
He highlighted SA’s reforms to improve the business environment and attract investors, including policy certainty and fiscal development. He emphasised our investment in infrastructure and the many opportunities for investors to back public-private partnership projects. He spoke of SA’s role as a gateway for investment into Africa, with the African Continental Free Trade Area creating extensive opportunity.
Noting that for the first time in its history the G20 is being hosted in Africa, Ramaphosa articulated the focus of our presidency of the G20 this year, namely the three themes of solidarity, equality and sustainable development. He concluded his address with an invitation to all to visit our country: “the most beautiful country in the world”. This invitation was immediately and enthusiastically accepted by WEF chair Klaus Schwab. That was the sentiment across Davos.
The ministers and deputy ministers sat on panels throughout the event, articulating a clear and coherent narrative that our businesses could reinforce. SA is well on its way to solving its structural challenges, we’ve proved that we are making progress and now is the time to capitalise on the opportunities we have created.
Trade, industry & competition minister Parks Tau talked up community-driven innovation; Blade Nzimande, minister of science, technology & innovation, spoke on skills in the digital age; agriculture minister John Steenhuisen highlighted the importance of food security while boosting growth. Our minister of electricity & energy, Kgosientsho Ramokgopa, spoke about the elimination of load-shedding and investment in new generation capacity and finance minister Enoch Godongwana emphasised ongoing growth-enhancing reforms, noting that ratings upgrades will follow. Whatever differences exist, those trying to detect cracks in the government of national unity found none.
Our hosting of the G20 and B20 this year gave added prominence to our delegation’s role in Switzerland. SA has a once-in-a-generation opportunity to put key policy issues that affect the Global South on the international agenda. We also have the opportunity to share the model we have developed for how a government and business sector can advance an emerging economy’s developmental mandate. We have established a brilliant template for how the public and private sectors can work together, which can be useful to the world.
We now have a clear vision of what success from our hosting of the G20 and B20 will look like. We should aim to shift global views on the riskiness of emerging economies and ensure debt sustainability, while ensuring investment flows to drive development. We should be clear about the importance of climate adaptation and the investment needed to ensure the Global South is resilient. We should demonstrate the benefits of close co-operation between business and the government, and share the ways in which, together, we continue to find solutions to our challenges. Finally, we should make sure that the world understands and supports our ambition to grow our economy.
Team SA in 2025 embodies a newfound confidence and this confidence is resonating among the global audience. The world has recognised the progress we’re making in implementing economic reforms, solving the electricity crisis, dealing with corruption and fixing our logistics networks. As the president noted, there aren’t many countries in the world with a similar history of long-term co-operation between business, government and labour. That this co-operative structure is now positioned to deliver on its shared goals speaks to our hard-won stability, and the tangible promise of economic growth. This is a message that Team SA delivered confidently, and one that has captured the world’s attention.
To capitalise on its potential and become a leading force in the global economy, SA must navigate the challenges ahead with a unified approach and clear vision. Building on the renewed confidence evident in Davos, we must now leverage this momentum to drive growth, unlock opportunities, and secure our position on the world stage.
The country is watching. The world is watching.
• Mavuso is CEO of Business Leadership SA.
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