South African President Cyril Ramaphosa on Thursday raised the country's investment target from R2 trillion to R3 trillion, after announcing that the 2026 South Africa Investment Summit had achieved a record R900 billion in pledges – the highest cumulative value since the forum first launched.
In upbeat closing remarks, Ramaphosa used the conference platform to deliver his message to domestic and international investors: South Africa wants to be seen not just as a destination for capital, but as a long-term development partner with new momentum behind economic recovery, infrastructure investment and industrial growth.
“We invite you all to continue this journey with us, not only as investors, but as long-term partners in South Africa’s development,” Ramaphosa said. “You're not just investing in an economy, you're investing in a nation that is determined to grow, change and succeed.”
The President said the commitments of R900 billion marked a milestone for the summit series, surpassing previous totals and giving the government new confidence to expand its ambition. In a particularly unscripted moment, before formally announcing that South Africa would now target R3 trillion of investment instead of the earlier R2 trillion target, Ramaphosa corrected himself several times while discussing the new benchmark.
“This is the first time that we have achieved such a huge number of R900 billion,” Ramaphosa said. “Tonight, I'm changing the target. As President, I'm changing the target from 2 trillion to 3 trillion. That's the new target now.”
The announcement underlines Pretoria's effort to build a strong investment narrative at a time when the country is trying to accelerate growth, deal with infrastructure bottlenecks and restore business confidence after years of weak expansion and electricity instability.
Ramaphosa framed the decision as part of a broader effort to demonstrate executive resolve, countering criticism that his administration may be overly consultative or slow-moving. He said decisive government intervention during South Africa's power crisis helped end load shedding, which had a huge impact on business activity, production and investor sentiment.
The President pointed to his decision to intensify responsibilities within the government, including appointing a minister focused exclusively on power and energy, saying the move helped focus efforts on solving the country's power shortage.
Recalling internal criticism over the reshuffle, Ramaphosa said, “I have decided. I am decisive.” He argued that the focused approach ultimately helped eliminate load shedding, one of the most significant economic achievements of the government in recent years.
For investors, the message was clear: The government wants to show it can act quickly when disruptions threaten growth. Energy reliability has long been one of the most closely watched indicators for companies considering expansion in South Africa, particularly in manufacturing, mining, logistics and heavy industry.
Ramaphosa also used the speech to highlight the next major infrastructure bottleneck – transmission. Although generation capacity is improving, he said the country now needs to significantly expand and modernize the grid to take in more power from new producers.
According to the President, South Africa needs to build 14,000 kilometers of new transmission lines at an estimated cost of R450 billion. He suggested that investment would be central to unlocking the next phase of the country's energy transition and industrial development.
“He said, 'President, the ticket is R450 billion,'” Ramaphosa said, recalling the conversation with Power and Energy Minister Kgosiensho Ramokgopa. “And he said, we're going to raise money, and we're going to raise money to put in our transmission lines.”
The emphasis on transmission investment is particularly important because it signals a shift in the energy debate from crisis management to system expansion. With load shedding easing, policymakers are focusing on how to integrate more generation capacity, including renewables and other independent power sources, into the national grid.
Ramaphosa linked the investment drive to broader regional priorities, including petroleum exploration and mining. He said the government has sought to shift ministerial focus towards key industries that can help drive long-term economic growth, employment generation and export earnings.
In his remarks, he described mining as a potential “sunrise industry”, a sign that South Africa sees renewed promise in a sector long at the heart of its economy. He also stressed the need to explore “the entire country” and its coastline for petroleum resources, suggesting that resource development remain part of the government's development strategy along with infrastructure and energy reforms.
Record conference pledges, although not tantamount to actual investments, provide an important political and economic signal. Investment conferences are often judged not only by the nominal value of commitments, but also by how effectively governments convert those promises into executed projects, operational facilities and jobs on the ground. For South Africa, the challenge now will be to translate the headline R900 billion into measurable results across all sectors.
Still, the scale of the figure gives Ramaphosa a strong hand in arguing that investors are willing to support South Africa despite structural challenges. It also helps strengthen their argument that the country retains competitive advantages ranging from natural resources and industrial capacity to financial markets and a relatively sophisticated business ecosystem.
The President's decision to raise the national target to R3 trillion shows that Pretoria believes the conference's momentum can be sustained. This puts greater pressure on ministers and economic agencies to maintain policy stability, overcome regulatory barriers, and accelerate infrastructure implementation.
Ramaphosa clarified that, in his view, the revised objective is no longer open to debate.
“Tonight, what has been decided is the 3 trillion rand investment that we have to deploy, and that's open and shut,” he said.
For markets and investors, the immediate takeaway is that South Africa is trying to position itself as a country that is moving from repair to expansion – with energy sustainability, grid investment and sector-focused growth forming the backbone of that pitch. Whether the new R3 trillion target can be achieved will depend less on conference applause and more on implementation. But for now, Ramaphosa has opted to set a more ambitious marker, betting that a record year for pledges could form the foundation of a larger investment boost.