Cape Town – President Cyril Ramaphosa met with Elon Musk at the United Nations General Assembly in New York to discuss potential investment opportunities in South Africa, particularly in the context of Musk’s Starlink satellite internet service.
Despite reports that Starlink isn’t available in South Africa due to BEE regulations, ICASA has yet to receive a formal application from the company, reports said.
President Cyril Ramaphosa met South African-born American billionaire Elon Musk in New York to talk investment in SA after a day focused entirely on FDI and engagement with dozens of business leaders#sabcnews pic.twitter.com/vmNV6P7Ey5
— Sherwin Bryce-Pease (@sherwiebp) September 23, 2024
“The Independent Communications Authority of South Africa (ICASA) has yet to receive a formal application from Starlink for its services to operate in the country,” ITWeb TV quoted ICASA chairperson Mothibi Ramusi as saying recently.
Starlink could transform internet access in rural areas.
During his address at the SA-US Business Forum, Ramaphosa highlighted South Africa’s focus on inclusive growth, job creation, and structural economic reforms, and announced a new investment target of R2 trillion over the next five years.
#UNGA79 | His Excellency President @CyrilRamaphosa met with South African born American entrepreneur @ElonMusk, founder of Tesla and SpaceX.
The discussion explored opportunities for Elon Musk to invest in South Africa. The President is on an investment drive on the sidelines… pic.twitter.com/xoLWQAHXBX
— The Presidency 🇿🇦 (@PresidencyZA) September 24, 2024
“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,” The Citizen quoted Ramaphosa as saying.
“Our efforts to promote South Africa as a favourable investment destination continue to yield positive benefits.
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Compiled by Betha Madhomu
