President Cyril Ramaphosa has extended, until 18 December 2026, the term of the judicial commission of inquiry probing alleged attempts to prevent the investigation and prosecution of apartheid-era crimes. 

In May 2025, President Ramaphosa established the judicial commission of inquiry into allegations regarding efforts or attempts having been made to stop the investigation or prosecution of Truth and Reconciliation Commission cases.

The establishment of the commission of inquiry is part of an agreement reached in settlement discussions in a court application brought by families of victims of apartheid-era crimes. 

The Commission recently requested an extension of its term of office for it to finish its work and submit a final report to the President.

Having considered the Commission’s request as well as submissions opposing and supporting the extension, President Ramaphosa has given the Commission until 18 December 2026 to submit its final report.
 

Media enquiries: Vincent Magwenya Spokesperson to the President, media@presideny.gov.za

Issued by: The Presidency
Pretoria

President Cyril Ramaphosa has in terms of section 91(2) of the Constitution of the Republic of South Africa, 1996, removed Minister Sisisi Tolashe from the position of Minister of Social Development. 

In the interim, President Ramaphosa has appointed Minister in the Presidency for Women, Youth and Persons with Disabilities Sindisiwe Chikunga as the acting minister in the portfolio pending a full-time appointment in due course. 

Media enquiries: Vincent Magwenya Spokesperson to the President, media@presideny.gov.za

Issued by: The Presidency
Pretoria

President Cyril Ramaphosa has appointed two Deputy National Directors of Public Prosecutions as part of ensuring that the National Prosecuting Authority (NPA) remains effective in the fight against crime and enjoys public trust.
 
President Ramaphosa has appointed Adv Chuma Mtengwane as Deputy National Director of Public Prosecutions: Asset Forfeiture Unit.

The President has also appointed Adv. Nicolette Astraid Bell as Deputy National Director of Public Prosecutions: National Prosecutions Services.
 
The President has made these appointments in terms of section 11(1) of the National Prosecuting Authority Act, 1998 (Act No. 32 of 1998), and after consultation with Minister of Justice and Constitutional Development Ms Mmamoloko Tryphosa Kubayi and National Director of Public Prosecutions Adv Andy Mothibi.
 
President Ramaphosa wishes Adv Mtengwane and Adv Bell well as they assume their roles in the National Prosecuting Authority’s constitutionally empowered mandate to institute criminal proceedings on behalf of the State.
 
Adv. Chuma Mtengwane is a highly skilled prosecutor with 25 years of prosecutorial experience in the Public Sector and she currently holds the position as Acting Deputy National Director of Public Prosecutions: Asset Forfeiture Unit.
 
Her expertise ranges over asset forfeiture, criminal investigation, police communications, and trial litigation and settlement negotiation.
 
Adv Bell is a career prosecutor who joined the prosecution service on 1 May 1995 at Krugersdorp Magistrate's Court.
 
She was a Deputy Director of Public Prosecutions for more than 18 years. She has more than 29 years of legal experience, including 18 years at Senior Management level within the NPA.

 
Media enquiries: Vincent Magwenya, Spokesperson to the President – media@presidency.gov.za

Issued by: The Presidency
Pretoria
 

Honourable House Chairperson,

Chairperson of the Portfolio Committee on Planning, Monitoring and Evaluation, Honourable Theliswa Mgweba

Deputy Minister in The Presidency, Honourable Nonceba Mhlauli

Honourable Members of the Portfolio Committee on Planning, Monitoring and Evaluation

The Statistician General Mr. Risenga Maluleke and his team

Members of the South African Statistics Council under the leadership Dr NompumeleloNzimande-Mbele

Thirty years ago, Census 1996 was a first in the history of South Africa to count every person, in every community, in every language, as an equal citizen of a free South Africa. That act of counting was an act of recognition. Today, as we present Budget Vote 14, we honour that founding legacy not by looking back, but by reflecting the contribution of the data ecosystem to the development of South Africa.

It is with honour that I present Budget Vote 14: Statistics South Africa for the financial year 2026/2027 and the medium-term expenditure framework period, as we continue the work of the 7th Administration.

The MTEF allocation is R2.98 billion in 2026/27; and R3.09 billion and R3.20 billion in the 2027/28 and 2028/29 financial years respectively, which is an average growth rate of 3,9%. I must upfront indicate that this allocation is not enough.

The main divisions of Vote 14 are:

 

Supporting this Budget Vote is an investment in our ability to govern effectively in a rapidly changing world. As climate shocks intensify, technology accelerates, and global uncertainty grows, timely and credible statistics are no longer optional, they are essential to informed decision‑making and national resilience.

We therefore request Parliament to support the budget vote 14 of Statistics South Africa to enable informed decision-making as we work towards the goals of the National Development Plan.

Therefore, the products of Stats SA are not just for their own sake, but they serve as a guide and lodestar for our nation’s development.

Fellow South Africans

With four (4) years before 2030, government remains committed to the pursuit of the objectives of the Reconstruction and Development Programme (RDP) of 1994, which was consolidated into a national vision 2030 in the National Development Plan (NDP). Vision 2030 is implemented through five (5) year-cycles which are administration-linked Medium Term Development Plan (MTDP) - previously called MTSF. The 2024-2029 MTDP prioritises an inclusive economic growth that creates jobs, the reduction of poverty and addressing the high cost of living. Poverty reduction and its elimination has been a priority for successive administration, and Stats SA through its surveys measure the progress government is making in achieving these objectives.

In December 2025, Statistics South Africa released the Poverty Trends in South Africa -An examination of absolute poverty between 2006 and 2023. This report presents poverty levels and trends based on data collected by Stats SA through the Income and Expenditure Survey and Living Conditions Survey, which are collectively referred to as household expenditure surveys. Household Expenditure Surveys are the best source of data for the measurement of money-metric poverty and inequality. And thus, provide critical understanding of the household economy of a country. Stats SA conducts two (2) Household Expenditure Surveys as part of its household survey programme – which are the Income and Expenditure Survey and the Living Condition Survey. It is important that the Portfolio Committee of Planning, Monitoring and Evaluation to support increased budget allocation of Stats SA to enable frequent data collection for these surveys – unlike the current periodic data collection.

The poverty trends report by Stats SA indicate significant improvement in poverty reduction. For example, the percentage of the population that is considered Lower Bound Poverty Line (LBPL) decrease from 57.5% in 2006 to 37.9% in 2023, number of LBPL poor in millions similarly decreased from 27.3 million in 2006 to 23.2 million in 2023. Furthermore, percentage of the population living in extreme poverty (below the Food Poverty Line) also decreased from 27.4% in 2006 to 17.6% in 2023 – translating to 10.8 million people living in extreme poverty or food poverty line – equalling 2.2 million fewer people living in food poverty line in 2023 compared to 2006.

Honourable members,

Despite the significant progress in decreasing the poverty headcount, 10.8 million people below the food poverty line is 10.8 million people too many towards towards the goal of total elimination of poverty even when we accepted the negative impact of the Covid-19 pandemic on the fight against poverty. Government will continue, in line with one of the primary purposes of national poverty lines measurement to use these outcomes to improve the country’s ability to target developmental policies and programmes for interventions.

Stats SA in the 2003 – 2026 Poverty Report asserts that education remains one of the most potent tools for fighting poverty as those with lower education levels recorded notably higher poverty headcounts compared to those with higher levels of education. It is for this reason that the implementation of the Basic Education Laws Amendment (BELA) Act is non-negotiable. There is also a need to support the Minister of Higher Education on the continuing work to review the National Student Financial Aid Scheme (NSFAS) including measures to expand access to higher education for the dependents of police officers, teachers, nurses and other public servants who often fall outside existing support thresholds despite facing significant financial pressures. The aim is to build a more inclusive and sustainable student funding system that broadens opportunity while safeguarding the future viability of the scheme. Government is committed to address the missing middle phenomenon.

Yesterday, Stats SA released Quarter 1 Quarterly Labour Force Survey for 2026 that indicated a decrease in employment by 345 000 to 16.8 million in the first quarter compared to 17.1 million in the previous quarter. The argument of an increase in unemployment due to first quarter trends of increased labour market entrants does not hold as the country experienced a decline in the number of employed persons.

This decline in employment opportunities takes place in a period when investment in infrastructure development is gaining traction. The Minister of Finance announced one trillion Rands (R1 trillion) allocation for infrastructure development during the 2026 National Budget and the 6th edition of the South African Investment Conference raised more than R1.5 trillion worth of investment commitments.

This decline is reported when the country is experiencing an increase in anti-foreign nationals' sentiments, which in addition to accusing foreign nationals of taking part in criminal activities, the major complaint is the accusation that foreign nationals are taking opportunities that must be reserved for South Africans. Stats SA in the Migration Module of the Quarterly Labour Force Survey reported that the unemployment rate for foreign born persons as of 2022 was 18,2% and that of local born persons was 34%. The unemployment rate of foreign-born persons is almost half compared to that of locally born persons. The absorption rate of foreign-born persons was 64% and that of locally born persons was 37,7%, meaning that foreign born persons were twice as likely to be employed in South Africa than locally born persons. The absorption rate is the proportion of those in working age (15-64 years) who are employed.

With only 55,190 refugees and 82,410 asylum seekers as at 31 December 2025, the BMA and Home Affairs are actively attending to the presence of undocumented foreign nationals. Cabinet has directed the Department of Employment and Labour to intensify inspections of workplaces to ensure compliance with employment laws across vulnerable sectors such as hospitality, farms, trucking, and construction amongst others. Cabinet further directed municipalities to ensure the enforcement of municipal by-laws, with priority on trading by-laws. South Africans must also play their part by refraining from sub-leasing their business licenses.

On a policy level, the Revised White Paper on Immigration addresses constraints with current immigration laws, by introducing provisions of first country of safety principle, moving refugee reception centres nearest to the border, and clause to enable relevant Departments to designate certain trades, professions, and businesses only for South Africans and refugees. To address the argument that South Africans lack vocational skills, the Department of Higher Education is seized with work to reposition TVET colleges to become the most preferred institutions of higher learning whilst evaluating the dual education model.

Unemployment is a contributor to inequality. In this regard, Stats SA uses Gini coefficient as one of the well-known measures of inequality. The Gini ranges from 0 to 1, where zero indicates perfect equality and one indicates perform inequality. According to Stats SA, progress in reducing the Gini by population group showed a mixed results – while the Gini estimates for black Africans and coloureds declines between 2011 and 2023, the estimates for Indians/ Asians and whites increased over the same period. On the income level, the bottom 40% of income earners have seen their income share increase from 4.4% in 2006 to 6.8% in 2023. Stats SA has pointed out that despite the increasing share of income going to the bottom 40% over recent years, the bulk of income is still concentrated with those at the top of the income ladder.

It is however pleasing to report the rising remuneration among black South Africans that is changing the racial makeup of the country’s band of middle- and top-income earners over the course of three decades of democratic rule. The proportion of black households that made more than R75 000 a month in 2024 climbed to 41% from 29% in 2012 according to the StatsSA general household survey. Accordingly, the number of black South Africans in the middle- and upper-income brackets defined as those earning more than R22 000 a month — quadrupled to more than 7 million in 2024 from 2012. Overall, the total number of people in those income groups rose from about 4 million to more than 11 million, over the period (2012 - 2024).

Honourable members,

During this budget speech, I have demonstrated how the statistics are being used to direct government policy interventions and programmes.

The Work Programme of Statistics South Africa remain anchored in the Medium-Term Development Plan. Statistics South Africa’s 2026/27 Work Programme reflects our firm commitment to delivering the trusted, relevant statistics the country needs to plan effectively, govern responsibly, and build a better South Africa for all.

In a world shaped by rapid change, complex challenges, and competing narratives, official statistics remain our strongest defence against uncertainty and misinformation. They provide a single, trusted foundation: the truth, told objectively and transparently through numbers. Official statistics allow a nation to see itself clearly-not only where it stands today, but how it is changing over time.

Official statistics replace speculation with facts and rhetoric with reality. We live in an age of misinformation, where official data must compete with “alternative facts,” speculation, and deliberately manipulated narratives. We call on South Africans to allow facts to guide our national discourse. Let us choose evidence over noise, facts over fiction, and data over doubt.

In an environment of misinformation, the credibility and authority of Statistics South Africa are not luxuries—they are democratic necessities.

This House has a responsibility to protect the role of official statistics. I therefore call on Honourable Members to defend evidence over conjecture, to use official statistics in our debates and decisions, and to help build a culture where truth, transparency, and facts rule.

Honourable Chairperson

I want to take this opportunity to –

Thank the Portfolio Committee on Planning, Monitoring and Evaluation for their oversight work, guidance and support, the Statistician-General, Mr. Risenga Maluleke and his team, and the South African Statistics Council who continue to deliver on the mandate of Stats SA.

Let the numbers speak. Let the evidence guide us. And let us never lose sight of the 62 million South Africans whose lives depend on what we do with it.

Ngiya thokoza.

Honourable Chair of the session,
Minister in the Presidency, Honourable Ntshavheni 
Deputy Minister in the Presidency, Honourable Morolong
Honourable Chairperson and Members of the Portfolio Committee
Honorable Members
Distinguished Guests
Fellow South Africans;

This year marks two significant milestones in our democratic journey: 30 years of our Constitution and 30 years since South Africa conducted its first democratic Census in 1996.

Both were foundational acts of nation-building.

The Constitution gave us a democratic framework rooted in human dignity, equality and freedom. The Census gave us, for the first time, a complete and inclusive picture of all the people of South Africa. Together, they affirmed a simple but powerful principle: every person counts, and every person matters.

Over the past three decades, under the leadership of the African National Congress, we have consolidated our democracy and built strong institutions that serve the public interest. Statistics South Africa is one of those institutions.

Stats-SA has become a trusted national asset. Its work allows us to measure progress, identify challenges and plan with confidence. It helps government direct resources where they are needed most, and ensures that our decisions are guided by facts rather than assumptions. 

As we look to the future, the importance of credible and independent statistics will only grow. In a complex and rapidly changing world, South Africa needs reliable data to drive inclusive growth, create jobs, reduce poverty and build a capable state.

It is therefore my honour to support the Minister in the Presidency in presenting the Budget Vote of Statistics South Africa.

Honourable Members,

Just yesterday, Stats-SA released the Quarterly Labour Force Survey (QLFS) which is one of its key products measuring the employment and unemployment rate of our country. While we would have previously recorded four consecutive economic growth numbers in the past year, yesterday’s numbers indicate that much more needs to be done to ensure faster and more inclusive economic growth to improve the lives of all South Africans.

That is why the role of Stats SA is indispensable.

By producing accurate, objective and timely statistics, Stats SA provides the evidence base needed for sound policymaking and democratic accountability. From inflation and economic growth to poverty, employment and population trends, the organisation supplies information that is used daily by government, business, labour and ordinary citizens.

The credibility of this work depends on the institutional independence of Statistics South Africa.

This independence is protected by the Statistics Act and remains non-negotiable. Official statistics must be free from political or external interference. South Africans must have complete confidence that the numbers released by Stats SA are impartial, professional and trustworthy.

Honourable Members,

The South African Statistics Council plays an important role in safeguarding this credibility.

As a statutory advisory body established under the Statistics Act, the Council provides independent oversight and advice to both the Minister and the Statistician-General. It promotes the quality, relevance and integrity of official statistics.

We are pleased that the Council has endorsed the Work Programme of Stats SA for the 2026/27 financial year.

At the same time, the Council has raised concerns about financial pressures facing the organisation. These challenges must be addressed to ensure that the quality and sustainability of our national statistics are not compromised.

Honourable Chairperson,

The 2026/27 financial year marks the second year of implementing Stats SA’s strategic plan.

The organisation will focus on five priorities: 

Priority One: Sustaining and Protecting the Quality of National Indicators - 

The demand for reliable statistics continues to grow. Yet fiscal constraints make it increasingly difficult to expand statistical operations at the pace required.

Despite these challenges, Stats SA remains committed to maintaining the highest standards of quality and methodological rigour.

During this financial year, the organisation will publish 299 statistical products covering the economy, society, population and environment.

These include key indicators such as the Consumer Price Index and Gross Domestic Product, which are essential for economic planning and business confidence.

Stats SA will also continue to publish data on poverty, inequality, employment and living conditions. These statistics are vital in guiding government interventions aimed at overcoming the legacy of apartheid and improving the lives of the poor, especially black African women, who remain disproportionately affected by poverty and unemployment.

Priority Two Focuses on Driving Legislative and Statistical Reform - 

The Statistics Amendment Act, 2024, which came into effect in October 2025, strengthens the authority of the Statistician-General to coordinate the National Statistical System.

This reform will improve collaboration and data sharing across government and with strategic partners, including SARS, the South African Reserve Bank, the Department of Home Affairs and institutions of higher learning.

A more integrated data ecosystem will improve efficiency, reduce duplication and ensure that decision-makers have access to credible and consistent information.

Priority Three: Modernising and innovating the operating model - 

Stats SA is redesigning its household survey programme through the introduction of a continuous population survey.

The organisation is also expanding web-based data collection for business surveys.

These innovations will improve the timeliness, efficiency and responsiveness of official statistics while reducing costs and administrative burden.

Priority Four: Driving digital transformation - 

Digital transformation is essential to building a future-ready statistical office.
Stats SA will continue investing in technologies such as cloud computing, artificial intelligence and machine learning to modernise data collection, processing and analysis.

These tools will strengthen analytical capability and improve the quality and speed of statistical production.

Priority Five: Investing in skills development - 

No institution can succeed without skilled and motivated people.

Stats SA will continue to build expertise in data science, digital tools, survey methodology and emerging statistical techniques.

This investment in human capital will strengthen institutional resilience and ensure that South Africa remains at the forefront of statistical innovation.

Honourable Members,

As the data landscape evolves, Stats SA is assuming a broader role as a national data steward.

This means guiding the country’s data strategy, setting standards, promoting safe data sharing and ensuring compliance with legal and ethical requirements.

It also means acting as a trusted bridge between data producers, custodians and users.
By fulfilling this stewardship role, Stats SA will help South Africa harness data more effectively while protecting confidentiality and maintaining public trust.

Honourable Chairperson,

We are mindful of the financial pressures facing the organisation.

Modern statistical systems require sustained investment in technology, infrastructure and human capability.

Stats SA is working with National Treasury and exploring alternative funding models to safeguard the quality and continuity of official statistics.

This is not simply a budget matter.

It is an investment in democracy.

When our statistics are credible, our policies are stronger, our institutions are more accountable and our development efforts are more effective.

Thirty years ago, South Africa chose constitutional democracy and committed itself to building a society based on justice, equality and opportunity.

Thirty years ago, through our first democratic Census, we committed ourselves to counting every person and understanding the realities of our nation.

Today, we reaffirm that commitment.

We reaffirm that facts matter.

We reaffirm that institutions matter.

And we reaffirm that every South African counts.

Let us continue to support the Statistician-General, Mr Risenga Maluleke, the dedicated staff of Statistics South Africa, and the South African Statistics Council under the leadership of Dr Nompumelelo Nzimande-Mbele.

Together, we will ensure that South Africa remains guided by evidence, strengthened by democratic institutions and united in our pursuit of inclusive development.

Before I sit down chair, I would like to extend warm greetings to Taxation and Statics students from the Cape Peninsula University of Technology who are present here at the debate, Bandile Nkosi Olwethu Mfobo, Ayabulela Sikrweqe, Boniswa Oreeditse Mpisani and Sibahle Ngqoko. 

I thank you.
 

President Cyril Ramaphosa has, in terms of section 174(6) of the Constitution of the Republic of South Africa, 1996, and on the advice of the Judicial Service Commission, appointed judges to divisions across South Africa to ensure courts have the necessary capacity to administer justice.
 
President Ramaphosa has made the following appointments and wishes the judges well as they assume their responsibilities.
 
(i) Madam Justice Thandi Victoria Norman as a Judge of the Supreme Court of Appeal, with effect from 15 May 2026 in an existing vacancy;

(ii) Mr Justice Bashier Vally as a Judge of the Supreme Court of Appeal, with effect from 01 June 2026 in an existing vacancy;

(iii) Madam Justice Leonie Windell as a Judge of the Supreme Court of Appeal with effect from 01 June 2026 in an existing vacancy;

(iv) Mr Justice Aubrey Phage Ledwaba as a Judge President of the Gauteng Division of the High Court, with effect from 15 May 2026 in an existing vacancy;

(v) Ms Nolubabalo Cengani-Mbakaza as a Judge of the Eastern Cape Division of the High Court, Mthatha with effect from 01 July 2026 in an existing vacancy;

(vi) Adv Sally Ann Collett as a Judge of the Eastern Cape Division of the High Court, Makhanda with effect from 01 July 2026 in an existing vacancy;

(vii) Professor Nomthandazo Patience Ntlama-Makhanya as a Judge of the Eastern Cape Division of the Court, Makhanda with effect from 01 August 2026 in an existing vacancy;

(viii) Mr Rodges Deon Barendse as a Judge of the Western Cape Division of
the High Court, with effect from 01 June 2026 in an existing vacancy;

(ix) Adv Diane Margaret Davis SC as a Judge of the Western Cape Division of the High Court, with effect from 01 July 2026 in an existing vacancy;

(x) Adv Ncumisa Thoko Mayosi as a Judge of the Western Cape Division of the High Court, with effect from 01 June 2026 in an existing vacancy;
 
(xi) Adv Pinda Njokweni as a Judge of the Western Cape Division of the High Court, with effect from 01 June 2026 in an existing vacancy; and

(xii) Adv Phillipa Susan Van Zyl as a Judge of the Western Cape Division of the High Court, with effect from 01 June 2026 in an existing vacancy.

 

Media enquiries: Vincent Magwenya, Spokesperson to the President, media@presidency.gov.za

Issued by: The Presidency
Pretoria

President Cyril Ramaphosa will on Thursday, 14 May 2026, account to the nation on the work of government when he responds to Questions for Oral Reply in the National Assembly in Parliament, Cape Town.

The President will, among other questions, brief Parliament on youth skills development and government’s plans to address students’ debt.

He will address Members on the impact of various investment conferences in boosting employment opportunities in South Africa.

In addition, he will provide an update on the roll-out plan of the anti-crime Operation Prosper.

The President will further address matters relating to the Minister of Social Development and the National Commissioner of the South African Police Service.

Oral question sessions with the President are scheduled at least once a quarter during Parliament's annual programme.

These sessions are one of the mechanisms Parliament uses, in terms of the Constitution, to hold the Executive to account.

The Oral Replies session will take place as follows:

Date: Thursday, 14 May 2026
Time: 14h00
Venue: Nieuwmeester Dome, Cape Town

 

Media enquiries: Vincent Magwenya, Spokesperson to the President, media@presidency.gov.za

Issued by: The Presidency
Pretoria

President Cyril Ramaphosa will on Friday, 15 May 2026, address the closing session of the National Council of Provinces (NCOP) Taking Parliament to the People programme in the Matlosana Local Municipality in the North West Province.

The NCOP programme takes place from 12 to 15 May 2026 under the theme, “Celebrating 30 Years of the Constitution: Deepening Participatory Democracy for Service Delivery.”

The outreach focuses on strengthening public participation, oversight and cooperative governance across all three spheres of government.

The National Council of Provinces, as the parliamentary House representing provincial and local interests at national level, plays a critical role in South Africa’s constitutional democracy through oversight of provincial and local government, cooperative governance, and the protection of provincial interests.

Taking Parliament to the People brings democracy closer to communities by creating a direct platform for citizens to raise concerns and contribute to decision-making processes.

The programme features public hearings, site visits to service delivery hotspots, and direct engagements with permanent delegates to the NCOP, Ministers, Members of Provincial Legislatures and councillors.

At Friday’s event, communities in the Dr Kenneth Kaunda District Municipality and surrounding areas will engage government leaders on key service delivery matters, including local economic development and job creation, infrastructure maintenance, water and sanitation, roads, electricity, human settlements, healthcare, mining, as well as financial management and governance.

The President will address the programme as follows:
Date: Friday, 15 May 2026
Time: 09h00
Venue: Spirit Word House, Old Drive-in Site, Off N12 Highway, Stilfontein, North West Province

Media accreditation enquiries should be directed to Mr Manelisi Ntsodo via whatsApp on 081 716 2021.

Media enquiries: Vincent Magwenya, Spokesperson to the President, media@presidency.gov.za

Issued by: The Presidency
Pretoria
 

Programme Director,
Minister in the Presidency, Ms khumbudzo Ntshavheni,
Minister of Transport, Ms Barbara Creecy,
Minister of Public Works and Infrastructure,
Mr Dean Macpherson,
Deputy Minister of Trade, Industry and Competition,
Mr Zuko Godlimpi,
Deputy Minister of Finance, Mr David Masondo,
Chairman and CEO of Global Infrastructure Partners, Mr Adebayo Ogunlesi,
Leaders of Public and Private Sector entities,
Members of the business and investor community,
Distinguished Guests,
Ladies and Gentlemen, 
Good morning. 

Allow me to begin by thanking Global Infrastructure Partners and BlackRock for convening this summit.

This gathering affirms Africa’s place as a leading destination for global infrastructure investment. 

The global investment landscape is rapidly evolving. It has become increasingly competitive, especially for emerging markets vying for capital. 

Investors are seeking opportunities that offer scale and sustainable returns in investment destinations where there is policy certainty, stable institutions and manageable risk. 

Infrastructure development in Africa presents one of the largest untapped investment opportunities of our time. 

According to the OECD, raising Africa’s annual infrastructure investment to roughly $155 billion could nearly double continental GDP by 2040. 

It is significant that BlackRock, one of the world’s largest infrastructure investment platforms, recognises this immense potential. 

We welcome the announcement by BlackRock earlier this year of a $500 million commitment towards the African Infrastructure Fund III, with investments targeted towards energy systems, logistics corridors and transport infrastructure.

Private capital and expertise is critical to Africa’s infrastructure progress.

Because it is the building block of every modern economy on earth, infrastructure is the next great frontier of investment. 

It is in this context that institutional investors are increasingly looking to South Africa as a strategic, long-term investment destination. 

South Africa has the largest, most industrialised and most diverse economy in Africa. 

We have a sophisticated financial sector, deep capital markets, substantial mining reserves, vast tracks of arable land, untapped wind and solar energy resources, and cutting-edge digital infrastructure. 

We have a young, dynamic and growing population with one of the highest rates of urbanisation on the continent. 

Sixty-three percent of South Africans live in urban areas, where the demand for public infrastructure continues to rise. 

South Africa is a democracy in which the Constitution provides legal certainty, protects rights and holds the state accountable. This is essential to both social justice and economic development.

The South African economy has weathered difficult times. Growth has been constrained by a number of factors, including the era of state capture, an energy crisis, the COVID-19 pandemic and global economic volatility. 

Over the last eight years, we have worked to revive our network industries and restore financial and institutional stability. 

We are now seeing signs of recovery. We have recorded four consecutive quarters of growth into early 2026, although we are yet to see this translate into a meaningful rise in employment.

Inflation is stable. Our sovereign rating has been upgraded, and last year we were removed from the Financial Action Task Force grey list.

South Africa’s fiscal position is improving. We are on track to record our third consecutive primary budget surplus. We are steadily stabilising our sovereign debt burden and have a clear path towards achieving sustainable levels of debt. 

We are now focused on improving the efficiency of public spending, freeing up resources for infrastructure investment and sustaining the social wage.

The government is aligned with the South African Reserve Bank on the need to contain inflation, particularly in the context of heightened pressures from the Middle East conflict. This is necessary to protect South Africans from rising costs and to encourage investment.

We are firmly committed to sustaining a stable macroeconomic framework, understanding that it is essential for faster inclusive growth and job creation.

Our structural reform agenda continues to gain momentum.

It has brought about a new era of promise. It has positioned our economy as one of the leading destinations for investment in emerging markets.

In the first five years of our investment drive, which we launched in 2018, we attracted R1.5 trillion in investment commitments in sectors such as energy, telecoms, infrastructure, property, mining, advanced manufacturing and others.

Just over a month ago, we held the 6th South Africa Investment Conference, where we secured a record $54 billion (R890 billion) in pledges. 

This has encouraged us to set a new investment goal of R3 trillion – or $180 billion –  over the next five years. 

These commitments represent factories being built, renewable energy projects being connected to the grid, logistics corridors being modernised, jobs being created, and confidence being restored.

Our investment strategy is focused on sectors that will drive growth and create jobs at scale. These include manufacturing, mining beneficiation, digital infrastructure, agriculture and green industrialisation.

As an important part of our investment drive, last week government, industry and capital markets players demonstrated their commitment to cooperation on critical minerals. 

We want to move speedily from commitment to identifying commodities and their value chains to specific investable projects that deliver jobs for our people and value to our global partners. 

We are determined that our mineral endowment be translated into activities that benefit communities and generate growth.

Our investment ambition is high. We want to double fixed investment – which is currently at 15 percent – for a sustained period of time. 

To do this, we need to reduce the gap between improved investor sentiment and far greater capital deployment that translates to strong growth and more jobs.

That is why this Summit is so important.

We want to leverage renewed investor interest to unlock an unprecedented decade of South African infrastructure development and industrial expansion.

Over the next three years, South Africa will be spending over $60 billion (R1 trillion) on infrastructure across the three spheres of government, public entities and state-owned enterprises. 

This will entail the modernisation of ports, expansion of freight rail capacity, road rehabilitation and strategic trade corridors.

We are opening the rail network to greater private sector participation and rebuilding operational capacity through Transnet and the Passenger Rail Agency of South Africa.

Through strategic public–private partnerships, we are improving port efficiency and reducing congestion, expanding freight capacity and shifting freight from road to rail to reduce costs and emissions.

These reforms are restoring South Africa’s logistics competitiveness and strengthening our role as a regional and continental trade hub.

The infrastructure investment will also expand electricity generation capacity, strengthen transmission networks and accelerate the transition to a more competitive and sustainable energy market.

Over the past two years, we have implemented far-reaching reforms that are reshaping our electricity system.

A debilitating energy crisis is largely behind us. We have been able to improve the performance of our coal-fired power plants, expand private generation capacity and stabilise the system.

We are in the process of restructuring the national power utility Eskom to create a more competitive electricity market.

At the same time, we are expanding transmission infrastructure, accelerating renewable energy deployment, scaling battery storage systems and advancing gas-to-power solutions.

We are positioning South Africa as a leader in green hydrogen and industrial decarbonisation.

Through the Infrastructure Fund, government has committed $6 billion (R100 billion) in fiscal support over 10 years to crowd in private capital and blended finance into strategic infrastructure projects.

These investments will fundamentally reposition South Africa as a competitive investment destination and a strategic gateway into the African continent.

They will transform the productive capacity of our economy over the next decade.

This summit is where the interests of private capital and the state converge. 

Investors seek certainty, transparency and efficiency. 

We are therefore building a credible pipeline of bankable projects designed to attract both domestic and international investment.

InvestSA has curated an investment book of 85 projects valued at around $73 billion.

Our goal is to mobilise public-private partnerships to deliver these projects, recognising that the scale of our ambition requires the full participation of private capital, development finance institutions and institutional investors.

In support of these objectives we have been forging ahead with an ambitious structural reform agenda through Operation Vulindlela, which means ‘to open the way’.

The first phase of Operation Vulindlela focused on the energy, transportation, water and telecommunications sectors. 

The second phase, which we launched recently, will focus on reforms in local government, digital transformation and human settlements. 

Through Operation Vulindlela we have reduced regulatory bottlenecks, expanded private sector participation, improved the efficiency of our infrastructure pipeline and strengthened public-private collaboration.

We are reforming our immigration system to ensure South Africa remains competitive in the global race for skills, innovation and investment. 

These reforms have included introducing a trusted employer scheme, a points-based system for skilled migration, remote work and start-up visas, and an expanded e-Visa system.

Investors entering new markets need assurance that their investments are safe and that the business operating environment is underpinned by the rule of law.

One of our key priorities is therefore to combat infrastructure-related crime, construction site extortion and illegal mining.

We are deploying multidisciplinary teams to dismantle organised crime networks and root out police who collude with criminals.

At the same time, we continue to rebuild institutions weakened by state capture. Corruption-accused are being prosecuted, stolen assets are being recovered and the capacity for sophisticated investigations is being strengthened.

A structural shift is underway towards a more efficient, competitive and investment-friendly economy.

Our objective is to translate reform momentum into greater investment, faster growth and more jobs.

We remain committed to macroeconomic stability, to fiscal discipline and to forging ahead with the structural reform agenda that is firmly embedded within the state.

We invite you all to be partners in shaping South Africa’s future.

We are not merely building infrastructure. We are building a new growth path for South Africa, one defined by resilience, competitiveness and shared prosperity.

Together, we can convert ambition into action and action into lasting impact.

I thank you.