South Africa’s investment outlook took centre stage in London this May, where senior business a leaders gathered to unpack opportunities and challenges shaping the country’s economic future. 

Dennis Zietsman, Chairman of the Chamber, was among a panel of prominent voices invited to contribute to the discussion at the “Investing Where It Matters Most” event, hosted by Brand South Africa in partnership with the South African Institute of Chartered Accountants (SAICA). 

The event featured keynote addresses from His Excellency Kingsley Mamabolo and Brand South Africa Chairperson Ipeleng Selele, setting the tone for a robust dialogue on investment prospects, policy constraints and long-term growth trajectories. 

Moderated by Ronak Gopaldas, the panel explored critical questions facing investors: Why South Africa? Why now? And what lies ahead for one of Africa’s most industrialised economies? 

Panellists acknowledged a prevailing sense of cautious optimism. While structural challenges remain, there was consensus that South Africa continues to offer compelling investment opportunities—particularly in sectors beyond its traditional mining base. 

Infrastructure development, notably in rail and port systems, emerged as a key growth area, alongside business process outsourcing and talent-driven services. These sectors are increasingly attracting foreign capital, reflecting a broader diversification of the country’s investment landscape. 

However, participants also highlighted persistent obstacles. Regulatory complexity, including ongoing changes to Broad-Based Black Economic Empowerment (B-BBEE) legislation, continues to influence investor sentiment and requires ongoing engagement between government and business. 

A recurring theme was the need for more proactive communication from government regarding South Africa’s investment strengths. Despite strong inflows, panellists noted that the country’s success story is not always effectively articulated on the global stage. 

The United Kingdom remains South Africa’s largest source of foreign direct investment (FDI), with total stock reaching £26 billion by the end of 2024. Yet, participants argued that greater visibility and consistent messaging are essential to unlocking further capital inflows. 

The panel brought together a diverse group of leaders, including Patricia Stock, CEO of SAICA; Rajen Pillay, Executive Committee Member of the South African Chamber of Commerce; and Rob Cannavo, Honorary Consul for South Africa. 

As discussions concluded, the message was clear: while challenges persist, South Africa retains significant investment appeal—provided its story is told with clarity, confidence and conviction.