South Africans have a direct stake in whether the country’s improving investment image turns into real delivery, because the same conditions that reassure foreign investors, credible institutions, public safety and a government that keeps its promises, shape everyday life at home. That was the underlying message from speakers at the Nation Brand Forum in Johannesburg last week, held in partnership with Business Day.
Brics Business Council member Stavros Nicolaou told the forum that South Africa’s investment appeal is showing signs of recovery. Stronger bond performance, the country’s removal from the Financial Action Task Force’s greylist and improving investor sentiment are helping restore confidence in the country’s economic prospects.
“South Africa is benefiting from its relative attractiveness among emerging markets, supported by bond performance, removal from the FATF grey list and established financial architecture. Investors follow the best returns, infrastructure and policy certainty. Geopolitical uncertainty could further strengthen the country’s appeal,” he said.
Nicolaou said he had detected a shift in how international investors view South Africa, though the country still needs to convert improving sentiment into actual capital inflows. He pointed to a recent roundtable in Paris, hosted by French President Emmanuel Macron and Kenyan President William Ruto, which brought together 28 CEOs from France and Africa, citing it as evidence of growing international interest in investment opportunities on the continent. A fuller account of the recovery in the country’s investment appeal can be found at https://www.businessday.co.za/companies/2026-10-12-south-africas-investment-appeal-shows-signs-of-recovery/
Deputy minister in the presidency Kenneth Morolong, however, cautioned against relying on marketing to shape the country’s reputation without addressing the underlying factors that influence investor and visitor confidence. “No-one wants to invest in a country that does not have institutions or that has institutions that lack credibility. No-one wants to invest in a country that is unsafe,” he said.
For ordinary citizens, his warning cuts to the heart of the matter: the safety and institutional credibility that investors weigh are the same things that determine whether communities feel protected and public institutions serve them reliably. Morolong said building a country that inspires confidence requires a collective effort from government, business, civil society and the media, underpinned by an ethical and capable state.
His comments highlight the tension at the centre of South Africa’s nation-branding efforts. The country needs to communicate its opportunities more effectively, but its international standing will ultimately depend on whether its institutions function, its communities are safe and its policy commitments translate into results.
Brand South Africa chair Ipeleng Selele added a further dimension, arguing that the country must take greater ownership of its international narrative. Negative perceptions, she said, risk overshadowing its economic opportunities and tourism offering, both of which carry consequences for jobs and public visibility abroad.
“The key thing is really telling our story,” Selele said, calling for closer co-operation between government, business and civil society to present a more coherent picture of the country to international audiences. She argued that South Africa’s openness about its challenges, while important, could leave its achievements underrepresented if the country fails to communicate them effectively.
“If you don’t tell your story, someone else is going to be able to tell your story on your behalf,” she said.
Selele stressed that Brand South Africa cannot carry that responsibility alone, calling for a unified approach across institutions to strengthen the country’s appeal to investors and tourists. “Today it’s honestly about one vision, one brand and one country,” she said.
The forum’s overall message was that a stronger investment pitch is only a starting point. Whether better perceptions endure will be judged by delivery that citizens experience first: functioning institutions, safer communities and commitments kept.