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President Cyril Ramaphosa recently met with South African-born billionaire Elon Musk during his trip to the United States, where he is spearheading a R2-trillion investment campaign, Cape {town} Etc reports.

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Ramaphosa is currently in New York for the 79th session of the UN General Assembly, as per News24.

During his visit, the president and government officials are engaging in various discussions centred on economic diplomacy initiatives, as outlined by the presidency.

Ramaphosa’s meeting with Musk took place on Monday, where they discussed investment opportunities in South Africa. Images from their meeting were shared on Musk’s platform X, as well as by the South African Government, with Musk expressing that it was a ‘great meeting’ with Ramaphosa.

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Additionally, Ramaphosa spoke at the South Africa-US Business Forum hosted at the New York Stock Exchange, where he is actively seeking R2-trillion in investments for South Africa. He highlighted the extensive structural reforms implemented over the past six years, which have opened the country to greater investment, particularly in the clean energy sector.

This decision follows Ramaphosa’s statement earlier this month that he had conversations with Musk, indicating that Starlink is in discussions with the South African Government to launch its satellite service.

Starlink provides a high-speed internet network that can be accessed almost anywhere on Earth with the appropriate hardware, thanks to its fleet of satellites in low-Earth orbit.

The president also addressed South Africa’s efforts to be removed from the Financial Action Task Force (FATF) greylist. The FATF placed South Africa on the greylist in February 2023 due to non-compliance with international standards related to money laundering and illicit financial flows. The organisation identified significant deficiencies in the country’s measures against money laundering and terrorism financing.

In November 2023, the FATF acknowledged South Africa’s progress in strengthening its anti-money laundering framework and has indicated an upgrade is anticipated. Ramaphosa noted that further details regarding this progress would be provided in an upcoming report scheduled for October.

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Picture: Elon Musk / X

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