Ramaphosa and Elon Musk discuss investment opportunities in South Africa

Starlink is currently available in at least eight African countries, including eSwatini, Botswana, Mozambique, Nigeria, and Zambia.

President Cyril Ramaphosa met with South African-born American billionaire Elon Musk at the United Nations General Assembly in New York.

According to the Presidency, Ramaphosa and the Tesla owner discussed investment opportunities in South Africa.

The meeting comes amid reports that Starlink may soon become available in South Africa.

ALSO READ: No Starlink for SA yet as Eswatini becomes eighth African country to link up

Starlink is a satellite internet constellation operated by Musk’s SpaceX, providing fast and reliable internet through Low Earth Orbit (LEO) satellites. This could be a game changer for rural areas where fast internet connections are limited.

Speculation had been rife that Starlink was not yet available in South Africa due to the country’s BEE regulations. However, Independent Communications Authority of South Africa (ICASA) chairperson, Mothibi Ramusi, told ITWeb TV earlier this month that ICASA has yet to receive a formal application from Starlink to operate in the country.

Starlink is currently available in at least eight African countries, including eSwatini, Botswana, Mozambique, Nigeria, and Zambia.

Ramaphosa: ‘SA a favourable investment destination’ 

In his address at the SA-US Interactive Business Forum in New York, Ramaphosa said South Africa was prioritising inclusive growth and job creation, reducing poverty and tackling the high cost of living, and building a capable, ethical and developmental state.

ALSO READ: UN Security Council ‘no longer fit’ – Ramaphosa calls for reform [VIDEO]

“South Africa intends to stay the course on the structural economic reform process, on scaling up investment in key infrastructure, and on improving the business operating environment,” said Ramaphosa.

“Our efforts to promote South Africa as a favourable investment destination continue to yield positive benefits.

“South Africa and Africa is ripe for investment in financial services, advanced manufacturing, energy, healthcare, infrastructure development, mining, science and technology and other sectors.

“South Africa is also developing the value chains of the future.

ALSO READ: We are gateway to continent, Ramaphosa tells China

“With substantial reserves of critical energy transition minerals, we are positioning ourselves to be at the forefront of the green energy revolution.”

Ramaphosa said the country has now set a new investment target of approximately R2 trillion or approximately USD 100 billion over the next five-year period up to 2028.

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