The European Union (EU) has announced a €11,5 billion (R230 billion) investment package to support South Africa’s clean energy transition, industrial development and infrastructure modernisation.
Unveiled on the margins of the Global Gateway Forum in Brussels on October 9, the package will channel funding into priority sectors including green hydrogen, renewable energy, critical minerals, e-battery manufacturing and vaccine production. It will also back large-scale infrastructure upgrades across rail, road, ports, logistics and digital networks while boosting skills development, small business growth and research capacity, President Cyril Ramaphosa said, welcoming the investment.
The EU is already South Africa’s largest trading partner accounting for 41% of total foreign direct investment with more than 2 000 European companies operating locally.
“The new investment package builds on the Clean Trade and Investment Partnership agreed at the 2024 South Africa/EU Summit and is expected to accelerate the country’s just energy transition while strengthening Africa’s position in future green value chains,” Ramaphosa said.
