SOC Summit highlights South Africa’s investment potentials to GCC investors

 The 5th Annual South African State-Owned Companies (SOC) Summit highlighted South Africa’s economic fundamentals and investment opportunities to Gulf Cooperation Countries (GCC) investors.

GCC serve as a bridge connecting Africa and the Gulf region and South Africa seeks to attract more investment from this region in various economic sectors.

The Summit, which took place from Sept.22-24 at the Waldorf Astoria in the Dubai International Financial Centre, also addressed ways to enhance cooperation frameworks between South Africa and GCC countries.

The summit was attended by distinguished gathering of more than 100 investors, business leaders, and government officials from across the Gulf Cooperation Countries.

 The high-level investment summit attracted an elite group of decision-makers and thought leaders to discuss opportunities for cooperation and strategic partnerships across the African continent, with a special focus on the GCC country’s role in supporting investment and economic integration with the Republic of South Africa.

The summit explored South Africa’s evolving business landscape through a series of interactive panel discussions featuring leading voices from both the public and private sectors.

This year the SOC showcased investment opportunities available to investors from GCC countries, particularly the UAE, which continues to strengthen its position as a key economic partner to South Africa and the continent.

South Africa state owned entities that attended the summit included: Transnet, Eskom, SANRAL, Rand Water and Government Employee Pension Fund (GEPF).

On this occasion Dr Rassem Zok, CE Middle East and North Africa, Standard Bank Group, said “this summit comes at a crucial time, as attention is turning to building effective strategic partnerships between the GCC countries and the African continent. We in the UAE believe in our vital role as a global hub that connects markets and provides a conducive environment for investment and transcontinental economic cooperation”.

“Through this summit, we seek to highlight promising opportunities in South Africa and enhance dialogue between decision-makers and investors to develop sustainable projects particularly in infrastructure development that will benefit the continent. The GCC countries, with its advanced infrastructure and well-established international relations, continue to consolidate its position as a reliable partner for comprehensive economic development in Africa and beyond,” said Zok.

 The Summit underscored the GCC’s pivotal role as a global gateway for trade and capital flows between Africa and international markets, a role reinforced by progressive economic policies, world-class infrastructure, and a strategic geographic location. It also spotlighted current and upcoming Emirati investments in South Africa across priority sectors such as transformative infrastructure, energy, logistics, and advanced technologies.

In addition, the summit explored the importance of regional and international trade corridors linking South Africa to global markets with international.

 These corridors will be presented as strategic tools for advancing regional integration and inclusive economic development, alongside discussions on prospects for trilateral cooperation between the GCC, South Africa, and other African markets.

The summit agenda aligns with major shifts in the global economy, particularly in the context of international events such as the G20 Summit to be hosted by South Africa later this year, lending additional weight to this gathering as it helps shape the future of international economic cooperation in the years ahead.

This year the SOC aimed to enhance connectivity between global markets and reinforce the GCC’s role as a major hub for transcontinental economic cooperation, at a time when the region continues to assert itself as a key catalyst for international development and a trusted partner in exploring growth opportunities in emerging markets, particularly across the African continent.

It is worth noting that the gathering placed special emphasis on investments in transformative infrastructure and trade corridors that strengthen Africa’s connectivity with the global economy.

Targeted projects include the development of ports, railways, free zones, and distribution centers that connect South Africa to markets in the Middle East, Asia, and Europe.