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President Cyril Ramaphosa and Tesla founder Elon Musk. Picture: SA government/X
President Cyril Ramaphosa and Tesla founder Elon Musk. Picture: SA government/X

President Cyril Ramaphosa has met SA-born American billionaire Elon Musk during his visit to the US, where he is leading a R2-trillion investment drive.

Ramaphosa is in New York for the 79th session of the UN General Assembly, which under way in New York.

The president and government officials will also “undertake several engagements focusing on economic diplomacy initiatives”, according to the presidency. 

Ramaphosa met Musk on Monday and discussed investment in SA.

Pictures from the meeting were shared on Musk-owned X social media platform by the president, the SA government and Musk, who said it was “great meeting Ramaphosa”.

Ramaphosa on Monday also addressed the SA-US Business Forum at the New York Stock Exchange, where he was on a drive to secure R2-trillion in investment for SA.

“The far-reaching structural reforms we have implemented over the past six years have opened up the country to increased levels of investment that continues to grow. 

“This has been particularly evident in the clean energy sector that has attracted significant investment since our mobilisation drive began,” he said.

Ramaphosa also touched on the country’s efforts to get off the Financial Action Task Force’s (FATF’s) greylist. 

The FATF greylisted SA in February 2023 for not complying with international standards relating to money-laundering and addressing illicit financial flows. The FATF found the country had serious weaknesses when assessing the deficiencies in Anti-Money Laundering and the Combating of the Financing of Terrorism measures.

“In November 2023, the FATF noted that we had made progress in strengthening measures to tackle money-laundering and terrorist financing and upgraded us. We expect to detail more progress in this regard in our next report back schedule for October,” he said.

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