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Washington, D.C. - A majority of American businesses in South Africa view that country’s economic climate as excellent or good, with nearly half planning to invest more in the coming year than they did last year.   American private sector confidence in the South African government’s ability to improve the business climate also registered strong gains. 

The findings are contained in a recent survey conducted by the Johannesburg-based American Chamber of Commerce in South Africa, a grouping of more than 80 companies that employ an estimated 125,000 people locally.

The Corporate Council on Africa (CCA), America’s leading private sector advocate of trade and investment between the U.S. and Africa, hailed the survey results. CCA President Stephen Hayes pointed to investments by American automobile companies and said, “the world now knows what Detroit has known for a long time: South Africa is a good place to do business”.  

South Africa’s healthy economy, stable government, business infrastructure and the low cost of labor as a result of local currency values were cited as factors encouraging investment.

The survey results coincide with ongoing negotiations for a free trade zone between the United States and South Africa and some of its neighbors.  Ford Motor Company is expected soon to announce major new investments in its South African operations.  DaimlerChrysler and General Motors also have world-class production facilities in South Africa.

CCA (africacncl.org), established in 1993, is a nonpartisan nonprofit organization of more than 170 U.S. companies dedicated to strengthening the commercial relationship between the U.S. and Africa. CCA members represent nearly 85 percent of total U.S. private sector investments in Africa. CCA’s South African International Business Linkages (SAIBL) program helps American companies identify business and investment partners in South Africa.

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