- President Ramaphosa met with business owners in the USA, including Elon Musk, the wealthiest person in the world and a South African-born American billionaire.
- During the meeting, Ramaphosa extended an invitation to Musk to consider investing in South Africa.
President Cyril Ramaphosa held talks with South African-born billionaire Elon Musk in New York, aiming to attract investment to South Africa.
The meeting focused on exploring potential business opportunities for Musk’s companies in South Africa. Ramaphosa emphasized the country’s favorable investment climate and encouraged Musk to invest in his home country.
Musk’s Starlink, a satellite internet service, is currently in discussions with the South African government to introduce its services in the country. This move would significantly enhance South Africa’s connectivity and economic development.
One of the key topics on the agenda was Tesla’s entry into the South African market. Ramaphosa expressed his desire for Tesla to not only sell its vehicles in the country but also to manufacture them locally, which would create jobs and boost the economy.
South Africa has a growing electric vehicle market, with over 3,000 plug-in electric vehicles sold in the first quarter of 2024, up from 1,665 in the same period last year. However, currently, no electric vehicles are manufactured in the country, and they are heavily taxed, making them expensive for consumers.
Tesla’s entry into the South African market could be a game-changer, especially if the company decides to manufacture its vehicles locally. This would not only make electric vehicles more affordable for South Africans but also contribute to the country’s economic growth.
The potential investment could have far-reaching implications for South Africa’s economy and technological advancement. With Starlink’s global customer base of 2.6 million users, its entry into the South African market could bridge the digital divide and create new opportunities for businesses and individuals.
While there’s no official confirmation from Tesla on its plans for South Africa, the meeting between Ramaphosa and Musk signals a positive development for the country’s electric vehicle market.
