President Donald Trump has a vested interest in South Africa and the US Assistant Secretary of State for Africa Tibor Nagy is currently on an official visit to the country, monitoring the land expropriation.
According to Bloombreg, Nagy said the US investors are looking very closely at the land situation in the country before they make any decision regarding investing in South Africa.
The US is South Africa’s third-largest trading partner and according to Nagy imports everything from precious metals, iron, steel, aluminium, automobiles and vehicle parts from South Africa as well as citus and grapes from Norther and Western Cape. The two-way trade in 2018 was around $13.7-billion.
Nagy has warned African countries who are currently running up debt that they will not be able to pay it back and should not expect western sponsors to bail them out.
Reuters reported that Africa are possibly facing a debt crisis and Nagy is monitoring the situation closely, especially in South Africa as the country is bordering on another recession which could see it downgraded to ‘junk status’ by the end of the year.