By Lehlohonolo Lehana.
President Cyril Ramaphosa says South Africa is ready to partner with global investors to build modern, resilient infrastructure that supports inclusive growth and development.
Ramaphosa delivered the keynote address at the South Africa’ BlackRock Infrastructure Investment Summit in Cape Town on Wednesday, 13 May 2026.
The summit, convened by Global Infrastructure Partners and BlackRock, brought together government leaders, investors and business representatives to explore opportunities for infrastructure investment in South Africa and the African continent.
BlackRock is the world’s largest asset manager, overseeing approximately $14 to $15 trillion in assets under management, and serving institutional, intermediary, and individual investors.
Ramaphosa said infrastructure development in Africa presents one of the world’s largest untapped investment opportunities, noting that private capital and expertise are critical to accelerating development on the continent.
“It is in this context that institutional investors are increasingly looking to South Africa as a strategic, long-term investment destination,” he said.
The President highlighted South Africa’s sophisticated financial sector, deep capital markets, industrial capacity, renewable energy potential and digital infrastructure as some of the country’s competitive advantages.
He said government remains focused on creating a predictable and stable policy environment to encourage investor confidence and support long-term growth.
“We are firmly committed to sustaining a stable macroeconomic framework, understanding that it is essential for faster inclusive growth and job creation,” Ramaphosa said.
He noted that government’s structural reform agenda, driven through Operation Vulindlela, continues to improve the efficiency of network industries, expand private sector participation and strengthen public-private collaboration.
“Through Operation Vulindlela we have reduced regulatory bottlenecks, expanded private sector participation, improved the efficiency of our infrastructure pipeline and strengthened public-private collaboration, ” the President said.
Ramaphosa said government is accelerating project preparation and execution through strategic public-private partnerships and blended finance models aimed at unlocking investment and scaling infrastructure delivery.
Through the Infrastructure Fund, government has committed R100 billion in fiscal support over 10 years to crowd in private capital into strategic infrastructure projects.
“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,” he said.
The President announced that South Africa will spend more than R1 trillion on infrastructure over the next three years across all spheres of government, public entities and state-owned enterprises.
Head of BlackRock Africa, Khoabane Phoofolo, said the summit highlighted both the opportunities and challenges surrounding infrastructure development in South Africa and globally.
“From an opportunity standpoint, I think I’ve already been tasked with a forex delivery,” Phoofolo joked.
“I sent an email to my team of 15, and I think they’ve all accepted $133 billion per head will be focused on deploying assets into South Africa.”
Chairman and CEO of Global Infrastructure Partners, now part of BlackRockInc, Adebayo Ogunlesi said South Africa had underinvested in key infrastructure over many years, particularly in electricity, logistics and transport systems.
“In the 21st century there simply is no excuse for unreliable electricity supply. Reliable and affordable energy is a foundation requirement for growth,” he said.
Ogunlesi pointed to electricity transmission, renewable energy, rail, ports, airports and digital infrastructure as critical sectors that could unlock economic potential and improve South Africa’s competitiveness.
He also highlighted the importance of digital infrastructure and artificial intelligence, saying AI would require major investment in data centres and energy systems.
Ramaphosa joked that doubling the investment was not enough and that BlackRock should quadruple it instead. He used the summit to market South Africa as a leading investment destination on the continent, highlighting reforms in energy, logistics, telecommunications and infrastructure financing.