Deputy President Mashatile Encourages UK Investors To Establish Presence In South Africa

Deputy President Paul Mashatile encouraged investors from the United Kingdom to set up operations in South Africa to access the wider African market, noting that South Africa is often seen as a gateway to the African market as it offers many economic opportunities.

"I officially encourage UK businesses to visit our lovely country for business objectives as well as tourists to appreciate the beauty of our country," Mashatile told the JP Morgan-hosted event attendees in London, SA News reported.

The deputy president is in the United Kingdom for the second part of his working visit to enhance trade and investment relations between the two countries and attract investors.

Mashatile expressed confidence that the visit would lead to new partnerships and create more opportunities for collaboration between the two nations. He said working together can help build a stronger and more prosperous future for both nations and contribute to the economic growth of their regions.

He also highlighted the importance of collaboration, stating that it is essential for creating new opportunities, reducing risks and achieving better results for everyone involved in the financial sector.

"As we look around us, we see how interconnected and interdependent the global financial ecosystem has become. No longer can any single entity, whether it be a bank, a fintech company, a regulatory body, or a government, hope to address the complex challenges we face on its own," he added.

The deputy president told the attendees that the South African government believes in the power of collaboration. He explained that by working together with industry partners, regulators, and stakeholders, they have been able to bring about positive changes, improve their products and services, and create value for their customers.

However, he recognized that there is still a lot of work to be done and urged all stakeholders to adopt a more collaborative approach to address important issues in the financial sector, such as improving cybersecurity, promoting financial inclusion and developing sustainable investment strategies.

Mashatile reminded everyone that collaboration is not just about working together but also about using their combined strengths, valuing different perspectives and building trust and transparency.

In July, President Cyril Ramaphosa and newly elected British Prime Minister Sir Keir Starmer both agreed to strengthen the relationship between South Africa and the United Kingdom (UK).