Clinton, who is on an 11-day visit to Africa, met Minister of International Relations and Cooperation Maite Nkoana-Mashabane in Pretoria yesterday.

Addressing local and US business delegates, she said her government would pledge $150-million for the support of small, macro and medium enterprises.

This would result in the creation of about 20000 jobs.

"We want to spur efforts for greater economic growth and increase trade and investment, which will create jobs, improve lives and decrease poverty," she said.

About 600 US companies had already invested in South Africa, Clinton said, adding that "more American businesses were ready to do business in South Africa".

She announced $500000 in grants that would allow South African tertiary students to study in the US.

Nkoane-Mashabane said it was "once again reaffirmed that bilateral trade and investment [and] economic diplomacy remain the cornerstone of the two nations' relationship".

The minister said trade between the two countries was valued at R130-billion last year and the US was South Africa's third-largest trading partner.

Ninety-eight percent of exports enter the US market duty- and quota-free under the US African Growth and Opportunities Act, which is expected to expire in 2015. South Africa continued to urge the US government to consider an extension.