Cyril Ramaphosa blocks billions of dollars of investment from the United States

The United States Ambassador to South Africa, L. Brent Bozell III, said that the United States are ready to invest billions of dollars in South Africa.

However, due to President Cyril Ramaphosa’s refusal to address concerns regarding black economic empowerment and related matters, these investments cannot happen.

Bozell shared this information in interviews with the SABC and Business Day, explaining the United States’ position on South Africa.

He said that he told President Ramaphosa that expropriation without compensation and black economic empowerment (BEE) requirements are holding back investments.

The United States does not oppose broad-based black economic empowerment (BBBEE) and accepts it as a policy.

All it is asking for is the government to apply the Equity Equivalent Investment Programme (EEIP) to mining and telecommunications.

He said that the EEIP already applies to all other sectors, and that extending it to mining and telecoms will attract significant investment to South Africa.

“We find this situation outrageous, given that so many people want to invest in mining and South Africa so desperately needs that support,” Bozell said.

“We are simply asking to extend the same exemptions given to every other sector to these two industries as well.”

He added that the government’s unwillingness to apply EEIP to mining and telecommunications hurts South Africa.

“At a time when South Africa desperately needs investment, we have companies waiting in the wings with billions of dollars ready to invest in South Africa,” he said.

“Yet, they cannot get the same mining exemption everybody else gets, and President Ramaphosa refused to grant it.”

“The South African government is not being helpful when they can’t do the simplest things, such as give mining and telecom what they’ve given everyone else.”

President Cyril Ramaphosa did nothing for nine months

Bozell told the SABC that Ramaphosa did nothing for nine months on five simple issues, two of which have been taken off the table.

He discussed this directly with President Ramaphosa. However, despite pleading with him to act on the United States’ demands, he did nothing.

“We made these asks in December 2025. Nine months later, South Africa has still not responded,” he said.

“I visited with President Trump and Secretary Rubio in Washington, and they let me know, unequivocally, that they had run out of patience.”

“This could have been answered in 24 hours. However, nine months later, there has been no answer from South Africa.”

Bozell then took that message to President Cyril Ramaphosa, urging him to provide answers on the issues raised by the United States.

“When the response came, the issues were ignored. Ramaphosa simply ignored the issues,” he said.

“President Donald Trump was going to review the response and said that my requests were ignored.”

This prompted United States Secretary of State Marco Rubio to announce the new visa restriction policy targeting South Africans engaging in racial discrimination.