At the World Economic Forum in Davos, South African Finance Minister Enoch Godongwana told Bloomberg’s Francine Lacqua he is “quite confident” a trade deal with the United States will materialise soon. The comment came as South Africa seeks to deepen market access for its commodities and services amid a sluggish domestic economy.

He also ruled out major tax changes in the upcoming budget, signalling fiscal stability for investors. South Africa’s current trade deficit with the U.S. hovers around several billion dollars, so any tariff concessions could boost export volumes and improve the rand’s outlook, easing pressure on corporate earnings for the near term.

Analysts will watch for a formal memorandum in the next quarter; a signed pact could unlock financing from U.S. development banks and attract multinational firms to South Africa’s mining and renewable sectors. Market participants should monitor exchange‑rate movements and any policy tweaks that could follow the deal’s finalisation.