Godongwana highlights South Africa's economic strides at WEF 2026

Finance Minister Enoch Godongwana said on Friday that South Africa returned to this year's World Economic Forum (WEF) in Davos with tangible evidence of economic progress, presenting a compelling case to global investors and business partners that the country’s reform agenda is delivering results.

Key government ministers and leaders from industry and state agencies accompanied Godongwana.

He reiterated that the team used the forum in Davos to highlight recent achievements, including the removal of South Africa from the Financial Action Task Force (FATF) greylist, an upgrade of its sovereign credit rating by S&P Global, and structural reforms under Operation Vulindlela that have improved electricity supply, modernised port and freight rail operations, and boosted investment in infrastructure.

“When we came here in 2025, we presented our ambitious plan for driving economic reforms, building investor confidence and mobilising private investment,” Godongwana said.

“We returned in 2026 with concrete evidence of our progress. We returned not with promises, but with real successes.”

Godongwana said the delegation emphasised South Africa’s commitment to macroeconomic stability and policy consistency, crucial factors for attracting both local and international investment.

He also pointed to the lowering of the inflation target as a move that would reduce costs across the economy and provide greater policy and price certainty for investors.

Godongwana said the 2026 WEF meetings provided a platform to engage directly with global investors, potential partners, and business leaders, allowing Team South Africa to present the country as a stable, investment-ready economy.

He said the delegation stressed that ongoing structural reforms, including improvements in energy and transport infrastructure, are opening up new opportunities for private-sector participation and job creation.

South Africa’s performance in global forums was also highlighted.

The team, in a press briefing on Thursday, reported on the country’s 2025 G20 Presidency, which culminated in a historic G20 Leaders’ Declaration.

“Our G20 Presidency offered an increasingly rare opportunity for economic cooperation and dialogue to rise above narrow self-interest, geopolitical rivalry and brinksmanship,” Godongwana said.

“We will continue to act as a credible mediator on key issues of debt relief, climate and infrastructure finance, global tax rules and the reform of multilateral institutions.” 

The 56th Annual Meeting of the WEF convened nearly 3,000 leaders from government, business, civil society and academia under the theme “A Spirit of Dialogue”, against the most complex geopolitical backdrop in decades.

The meeting saw global leaders engaged in negotiations to find areas of agreement on the world’s most pressing challenges, from peace and security to technology, growth, people and the planet.

“This is a moment of uncertainty, but also possibility; not a moment to retreat, but a moment to engage,” said Børge Brende, President and CEO of the WEF.

“The World Economic Forum is not about responding to current events. It is about creating the right conditions that enable us to move forward.”

André Hoffmann, interim co-chair of the WEF and vice-chairman of Roche Holding, said Davos has reached a new level this year.

“Not only was it the intended platform for dialogue, but it also marked turning points and drove decisions,” Hoffmann said.

Larry Fink, interim co-chair of the WEF and CEO of BlackRock, said economic progress should be shared.

“We believe prosperity should reach further than it has, and we believe institutions like the World Economic Forum still matter in making that happen.”

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