US EditionEU pledges 11.5 billion euros of investment in South Africa
The EU’s €11.5 billion pledge includes €8.7 billion in blended finance to boost renewable energy, critical mineral processing, and vaccine production in South Africa.
- In a statement released on Thursday, the European Union pledged 11.5 billion in projects in South Africa, including energy, transport, and health sectors.
- Focused investments will support South Africa's renewable energy shift via new power generation, grid upgrades, storage, and green hydrogen, with about 8.7 billion coming through blended financing.
- The EU highlighted the Coega Green Ammonia Project and funds to support vaccine manufacturing capacity and climate-resilient transport in South Africa.
- That commitment positions South Africa as a strategic partner in the Global Gateway programme, which aims to mobilise up to 300 billion globally, according to the EU delegation.
- South Africa faces economic headwinds including a U.S. tariff and the expiry of a major U.S. trade initiative, which officials are trying to negotiate down.
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8 Articles
On the occasion of the Global Gateway Forum, which concluded on Friday, 10 October, in Brussels, the European Union announced, through Ursula von der Leyen, President of the Commission, a new investment promise for South Africa. The EUR 11.5 billion should be used to finance projects related to the energy transition, the pharmaceutical industry and infrastructure development, in a country where growth is at a standstill. After a period of fricti…
South Africa welcomes R230 billion EU investment package
President Cyril Ramaphosa has welcomed a new investment package from the European Union (EU) valued at €11.5 billion (R230 billion), describing it as a significant step towards building South Africa’s economy of the future while deepening long-standing ties with Europe. Speaking during a media briefing, President Ramaphosa said the initiative opens “new possibilities for trade and investment” and marks the beginning of “a new era of partnership …
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