PRESIDENT Cyril Ramaphosa and President of the European Commission Ursula von der Leyen jointly addressed the media on 9 October following the announcement of the European Union’s total investment package of nearly €12 billion in South Africa.
According to the EU, with this package, Team Europe is doubling down on its ambition to work with South Africa to become global leaders in the just energy transition, sustainable infrastructure, digital connectivity and pharmaceutical value chain. It is a shared commitment to building a healthier, more sustainable, prosperous and inclusive South Africa – boosting competitiveness, creating jobs, and ensuring no one is left behind in the transition to a green economy.
This investment package builds on the €4.7 billion package announced at the EU-South Africa Summit in March, marking a new chapter in the EU-South Africa partnership, with Team Europe – the EU, its Member States, and development finance institutions – mobilising increased investment through Global Gateway. The package covers several strategic areas, including advancing the Just Energy Transition, connectivity, green logistics and infrastructure and building South Africa’s vaccine production.
Team Europe said this investment package is already delivering concrete results with the new commitment to the Coega Green Ammonia Project. Local production will meet increasing global and domestic demand in the agricultural, chemical, or mining sectors. It will also support South Africa’s ambition to become a global shipping hub as green ammonia becomes a choice for clean maritime fuel.
Team Europe also mentioned the new commitment to strengthen local biomanufacturing capabilities to produce vaccines and other pharmaceuticals in South Africa for the African continent.
President Ramaphosa welcomed the special focus on skills development, small business growth, and research and innovation, noting that these investments will play a transformative role in advancing inclusive and sustainable economic growth.
The announcement took place on the margins of the Global Gateway Forum (GGF) at the headquarters of the European Commission, The Berlaymont, in Brussels.
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