Irish economist David McWilliams urged South Africa to prioritize attracting investment and fostering innovation to unlock economic growth and create employment opportunities, speaking at News24’s On The Record summit in Cape Town on Wednesday, March 18, 2026. McWilliams, known as the “David Beckham of Irish media” for his public profile, suggested South Africa emulate lessons from the historic boxing match between George Foreman and Muhammad Ali to understand the dynamics of disruption and opportunity.
Addressing attendees at the summit, McWilliams emphasized the require to produce capital more accessible within South Africa. He argued that reducing the cost of capital is crucial for encouraging businesses to invest and expand, ultimately leading to job creation. This point was a central theme of his presentation, as reported by News24.
The summit, which also featured the newly appointed head of the National Prosecuting Authority (NPA), addressed the impact of crime and corruption on the South African state. While McWilliams’s remarks focused on economic strategies, the broader context of the summit highlighted the challenges posed by systemic issues within the country. The event also reportedly resulted in the creation of two new jobs, a small but symbolic outcome of the discussions held.
News24 reported that McWilliams will be speaking at the summit, and that he hopes to make economics accessible to a wider audience. His approach to economics has been described as unconventional, bringing a degree of “glitz” to a traditionally dry field. He acknowledged the pressure of maintaining his public persona, quipping about hoping his son surpasses his own achievements.
The summit’s Day Two keynote address was delivered by McWilliams, following a discussion on the toll crime and corruption have taken on South Africa. The focus on attracting capital and celebrating disruptors comes as South Africa grapples with economic stagnation and high unemployment rates. The NPA’s new leadership also addressed the summit, signaling a potential shift in the approach to tackling corruption.
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