PICTURES: President Cyril Ramaphosa meets Elon Musk in New York
President Cyril Ramaphosa met with South African-born American billionaire Elon Musk in New York ahead of his UN address.
President Cyril Ramaphosa met with South African-born US billionaire Elon Musk – the co-founder of Tesla Motors, founder of SpaceX, and owner of X (formerly Twitter) in New York on 23 September.
The South African president is in the United States to attend the United Nations General Assembly, which he is expected to address today.
PRESIDENT CYRIL RAMAPHOSA MEETS BILLIONAIRE ELON MUSK IN NEW YORK
However, the president has conducted numerous Foreign Direct Investment (FDI) and engagements with dozens of business leaders, including Musk.
The president met with several investors, including Elon Musk, to develop South Africa’s economy.
Undoubtedly, the president has been trying to woo United States (US) businesses to invest in South Africa.
However, little is known about Cyril Ramaphosa’s meeting with Musk since it was held behind closed doors, and the media was barred.
The meeting also comes when the South African government is reportedly considering opening the market for Tesla’s Starlink in the country.
SOUTH AFRICA’S US TRADE VISIT A BIG WIN FOR SA?
Economists say Cyril Ramaphosa’s meetings are a big win for South Africa.
The US is reportedly deciding whether to extend the country’s participation in the African Growth and Opportunity Act (Agoa) trade deal.
There are fears that South Africa could be excluded from the new Agoa deal in 2025.
Over the years, Agoa has fostered trade relations between the world’s major economies and several sub-Saharan African countries (including SA).
It provides eligible sub-Saharan African countries with duty-free access to the US market for over 1800 products.
However, in addition to closed-door meetings, President Cyril Ramaphosa and his delegation met executives at the New York Stock Exchange (NYSE).
Confirmed reports have it that the delegation also met business bodies like the Business Council for International Understanding (BCIU).
The president also had the opportunity to ring the closing bell of the NYSE.
This is President Cyril Ramaphosa’s first visit to the US since establishing South Africa’s new Government of National Unity (GNU) after the July 2024 elections.
The trade visit comes barely a few weeks after the president undertook a similar trade and state visit to China.
WHAT DO YOU THINK OF SOUTH AFRICA’S US TRADE VISIT?
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