The internet services company will channel that investment into infrastructure to support the Southern African Development Community made up of 16 countries, the Johannesburg-based newspaper said. Starlink told the South African government it will use local firms to build its infrastructure and lease land, fibre and energy as well as for security and maintenance support.
It aims to secure a deal with South African authorities before the country hosts a G20 summit in Johannesburg in November, Business Day said.
Pretoria-born Musk has previously indicated that he wants Starlink internet services to be made available in Africa's largest economy. But he has refused to relinquish any equity in the business to comply with black empowerment rules, which he says are "openly racist".