South Africa faces US investment freeze warns ambassador - Semafor

South Africa’s post-apartheid Black empowerment rules are holding back billions of dollars in American capital, Washington’s ambassador said.

L. Brent Bozell III, reiterating US criticism of measures aimed at redressing inequalities caused by apartheid, singled out mandatory local equity transfers in mining and telecoms as a barrier to investment.

Since early 2025, Washington has escalated pressure on Pretoria over property rights, rural safety, and foreign policy alignment. Bozell, in an interview with local media and state broadcaster SABC, said his country had “billions with [a] capital B” waiting on the sidelines at a time when Africa’s biggest economy needs it. “We shake our heads in disbelief that there isn’t a better partnership,” he said, adding that the US is questioning whether Pretoria remains a viable partner.

Last week, the Trump administration imposed visa restrictions on unspecified South African officials it accused of “government-sponsored” discrimination, with Bozell saying it was the start of a series of measures against Pretoria.

South Africa has put its position as a dominant global supplier of platinum group metals at the center of its efforts to repair its fractured ties with the US, which needs the precious metals to keep its industrial base humming.