South Africa has signed a pledge with the US city of Atlanta, Georgia, to encourage increased US investment in South Africa and vice versa.

The signing took place at a trade and investment seminar hosted by the Department of Trade, Industry and Competition at the Standard Bank headquarters, in Rosebank, on December 5.

The event, which formed part of the Atlanta Phambili initiative launched in March, was attended by Atlanta Mayor Andre Dickens, US Ambassador to South Africa Reuben E Brigety, Standard Bank CEO Sim Tshabalala, Gauteng Agriculture and Rural Development MEC Vuyiswa Ramakgopa and Department of International Relations and Cooperation deputy director-genera Maud Dlomo, among several other US and South African high-level executives and dignitaries.

The pledge emphasises building on the shared democratic values and enduring friendly relations between South Africa and the US, while drawing inspiration from the rich legacies of civil rights and anti-apartheid movements, the diaspora connections, and the economic dynamism of Atlanta and South Africa.

“We commit to strengthening bilateral relations through the Atlanta Phambili initiative, leveraging the city of Atlanta and cities across South Africa as gateways to foster meaningful and lasting cooperation between our nations.

“Through sustained engagements, we aim to foster shared prosperity, promote stronger trade and investment ties, increase knowledge exchange and technical collaboration, and deepen people to people cooperation,” the pledge reads.

Atlanta Phambili is a subnational diplomacy initiative which seeks to use Atlanta as a gateway to foster common understanding, grow shared prosperity and facilitate mutually beneficial knowledge exchange.

“We want to strengthen South Africa's position as a premier destination for US investors seeking to expand across the continent. Atlanta can bring experienced voices and institutional investors to the table for conversations about how we derisk investment in Africa and accelerate the continent's global competitiveness,” Brigety said.

The initiative – a joint effort by the US Mission in South Africa and the government of South Africa – seeks to promote a two-way partnership and exchange between US and South African leaders, institutions and businesses.

“With this initiative, we envision and commit to working towards the intensification of trade and investment partnerships, people to people cooperation, and small business [development],” Dlomo said.

She added that the US was a strategic partner for South Africa in pursuing domestic priorities and in supporting the African agenda, economic integration, peace, security and post-conflict reconstruction, and was a leading source of foreign direct investment (FDI).

“Atlanta and Johannesburg share a powerful historical connection. Our ties run deep-rooted in our legacies of civil rights and equality. We gave the world two giants of men, Nelson Mandela and Dr Reverend Martin Luther King Jr.

“These world changers were unbreakable in their commitment to justice and human rights. The spirit of Phambili that we have here today of moving forward together continues to drive both of our cities,” Dickens said.

He highlighted the economic synergies between the two cities, emphasising their roles as economic powerhouses in their respective regions. Just as Johannesburg serves as a gateway to Africa's rapidly expanding markets, Dickens pointed out that Atlanta plays a similar role for the south-eastern US, acting as a hub for regional trade, innovation and investment.

He said both cities shared strengths in sectors such as financial services, logistics, technology and the creative industries.

Dickens noted that the technology industry had a significant presence in both cities, with Atlanta boasting one of the largest tech ecosystems in the US as it strived to become a top-five global tech hub.

Similarly, Johannesburg’s thriving financial technology (fintech) sector mirrors Atlanta’s, where more than 70% of the nation’s global transactions are processed, earning the city the nickname "Transaction Alley."

He further highlighted Atlanta’s manufacturing capabilities and logistical advantages, citing Hartsfield-Jackson Atlanta International Airport as the world’s busiest and most efficient airport.

Dickens pointed out that this facility provided crucial global connectivity, enabling 80% of the US to be reached within a two-hour flight, making it easily accessible for South African businesses targeting American and international markets.

He said Johannesburg’s OR Tambo International Airport played a similarly key role as Africa’s gateway.

“It is up to us to determine how we can build those bridges that connect our cities and move them forward together. Atlanta and Johannesburg share a commitment to inclusion and laying a foundation for a future that is more equitable and creating opportunities that benefit all. I'm looking forward to seeing what we are all able to do together when we invest in each other's successes,” Dickens said.

Tshabalala added that the pledge had been made at an opportune time, since sub-Saharan Africa was poised to be the fastest-growing region in the world by 2030.

“[Despite that], the continent is still overlooked as an investment destination, receiving just 4% of global FDI. It just has to change. In other words, assets are still relatively cheap and there is a great deal of upside. Many places in Africa are growing, even faster than the continental average, which is currently 4%,” he pointed out.

Tshabalala said the best way to invest in Africa's overall growth was to start in South Africa.

“Start right here in South Africa. Why? Because South Africa is Africa's largest, most industrialised and most sophisticated economy, and because we have the strongest economic links both to the world economy and to the other economies on our continent,” he stated.

Brigety said Atlanta Phambili would harness the full suite of economic tools within the US Mission to South Africa to facilitate trade and investment and to help businesses on both sides of the Atlantic succeed in global markets.

“This includes helping US companies unlock export opportunities and access financial institutions, promoting a level playing field for US businesses and investors and assisting South African businesses in accessing the US market and value chains,” he said.

Brigety added that the partnership would be expanded further next year.

“Our US Agency for International Development is partnering with the Atlanta Black Chambers to bring a delegation of black-owned South African businesses to Atlanta for 2025.

“This will help at least ten export-ready South African businesses leverage the Atlanta Black Chambers’ deep networks of black-owned business to build connections with US buyers and investors and to catalyse increased trade and investment opportunities,” he said.