The United States is aiming to strengthen economic ties with South Africa by promoting American investment that could raise the number of U.S. companies in the country to 1,000, bringing jobs, capital, and deeper trade connections.
At the BizNews Conference in Hermanus on Tuesday, U.S. Ambassador Leo Brent Bozell III highlighted the strong economic relationship between the two nations and the potential for further growth.
His comments come amid ongoing scrutiny of Washington–Pretoria relations, including debates over South Africa’s alignment with BRICS partners such as China and Russia, as well as domestic land reform and property rights issues affecting Afrikaner communities.
Bozell emphasized that, despite these tensions, the U.S. continues to view South Africa as a key economic partner on the continent, describing it as “a nation of immense potential, immense complexity, and immense importance, not only on the African continent, but around the globe.”
As Africa’s largest destination for American trade and investment, South Africa serves as a gateway for U.S. companies seeking opportunities across the continent.
More than 500 American firms currently operate in South Africa, employing over 250,000 people across sectors including technology, finance, manufacturing, and consumer goods, according to the ambassador.
Bozell said, “The United States values partners in South Africa. This country is Africa’s largest economy, and it’s the largest US trade and investment partner in sub-Saharan Africa.”
He added that he plans to engage with a broad spectrum of leaders in government, civil society, and the business community to explore new avenues for cooperation.
Acknowledging policy uncertainties, Bozell noted that multinational investment decisions can be influenced by South Africa’s regulatory environment, rural safety concerns, and land expropriation policies.
“When businesses believe their property rights may be uncertain, when policy frameworks create unpredictability instead of clarity, and when strategic alignments appear to drift towards regimes that do not share our democratic values, common ground becomes harder to sustain,” he said.
Despite these challenges, several U.S. tech companies have recently expanded their presence in South Africa, reflecting the country’s significance in Africa’s digital economy.
Bozell cited investments by Visa, Google Cloud, Microsoft, and Amazon as examples of strong commercial ties.
Visa recently launched its first data centre in Johannesburg, with plans to invest R1 billion ($54 million) over three years, while Google Cloud established its first African cloud region in the city. Microsoft is expanding cloud and AI infrastructure with an additional R5 billion investment by 2027, building on over R16 billion already invested.
Bozell emphasized, “They’re proof that American companies bring capital, high standards, cutting-edge technology, workforce development, and long-term commitment.”
Looking ahead, the ambassador expressed hope that U.S. economic presence in South Africa could double.
“Currently, more than 500 American companies operate here, but there is room for greater expansion,” he said, suggesting that reaching 1,000 companies is achievable, along with the accompanying jobs and investment.
“That’s how Americans think. Nothing is beyond the pale for us. We want partners who also dream great dreams, and that’s South Africa’s signature. Let us do all in our power to make our relationship prosper and thrive.”