- South African President Cyril Ramaphosa has hailed a landmark €11.5 billion (R230 billion) investment package from the European Union as a transformative boost for South Africa’s economy and a deepening of strategic ties between the two regions.
The announcement was created during a joint media briefing with European Commission President Ursula von der Leyen on the sidelines of the Global Gateway Forum, held at the European Commission’s headquarters in Brussels. The initiative, part of the EU’s broader Global Gateway strategy, aims to strengthen sustainable development and infrastructure partnerships worldwide.
“This investment opens new possibilities for trade and investment and marks the launchning of a new era of partnership and cooperation,” Ramaphosa declared. He emphasised that the funding will catalyse growth in key sectors including green hydrogen, renewable energy, critical minerals, electric battery manufacturing, and vaccine production. Infrastructure development across transport, logistics, and digital connectivity also features prominently in the package.
The President praised the EU’s focus on skills development, tiny business support, and research and innovation, calling it “vital for the development of our people, our most valuable resource.”
The EU remains South Africa’s largest trading partner and a major source of foreign direct investment, accounting for 41% of total FDI. Over 2,000 EU companies operate in South Africa, supporting more than half a million jobs.
Ramaphosa noted that the investment aligns with the Clean Trade and Investment Partnership, established during the South Africa–EU Summit in Cape Town in March 2024. The partnership promotes clean energy transitions, technology transfer, and industrial growth across African value chains.
“This collaboration will accelerate South Africa’s just transition to a low-carbon economy and position Africa as the next frontier of clean global production,” Ramaphosa declared.
He also expressed gratitude for the EU’s support of South Africa’s G20 Presidency and its agfinisha of solidarity, equality, and sustainability. President von der Leyen is expected to attfinish the G20 Leaders’ Summit in Johannesburg next month, where discussions will continue on building a peaceful, just, and inclusive global order.
Author: Bryan Groenfinishaal
Leave a Reply