South Africa's "stability and predictability" of its institutions, free press and transparent Constitution and government, gives it an advantage over many developing countries to attract investment.

However, government must continue in its efforts to stamp out corruption, which does not bode well for investment, according to Goldman Sachs International MD, Colin Coleman.

Coleman addressed the International Entrepreneurship and Investment Conference on Thursday on the challenges and opportunities facing African countries in terms of economic development.

Africa, despite challenges like infrastructure shortages, political instability and health issues, is attracting foreign investment.

According to Coleman, Brazilian investors are active in West African countries and the Chinese are involved in economic projects all over Africa. India and some large South African companies are also making their presence felt in African countries to boost economic growth.

Indian companies are active in the manufacturing, tourism and property development sectors, while China's investment lies in infrastructure and resource extraction across Africa.

Coleman drew attention to the positive economic impact by South African companies MTN, Standard Bank and Shoprite in other parts of the continent.

He said for now, South Africa was one of the leading economies on the continent, given its admission into Brics and other important international institutions.

CEO of BJM Securities, Andile Mazwai, added that South Africa, in comparison to other emerging markets, is an easier place to conduct business. He also warned however that corruption, health and safety issues must be death with immediately.

He pointed out that countries like the Democratic Republic of Congo have rich natural resources, but lack the technical know-how to maximise opportunities to attract investment.

Meanwhile, South African leaders President Jacob Zuma, Minister in the Presidency in charge of the National Planning Commission, Trevor Manuel, and Finance Minister Pravin Gordhan were applauded for their efforts to push the agenda of Africa as a whole on the world economic stage.