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The partnership is expected to enable Sasol, for example, to export sustainable fuel, especially aviation fuel, to Europe A more than $5 billion investment package from the European Union (EU) to South Africa aims to assist the country in fulfilling its renewable energy ambitions. The package was announced at the eighth South Africa-European Union Summit. Held in the Western Cape yesterday (13 March), the Summit took place within the framework of the Strategic Partnership between South Africa and the European Union. President Cyril Ramaphosa said the investment covers: critical raw mineral processing green hydrogen renewable energy transport and digital infrastructure local vaccine and pharmaceutical production, and resources for skills development. On X, EU President Dr Ursula von der Leyen remarked: “We are presenting a new €4.7 billion (around $5.1bn) Global Gateway investment package for South Africa. For projects that support a just energy transition. For connectivity – both physical and digital. And for vaccines, produced in Africa, for Africa.” Ramaphosa said at a Summit press conference yesterday (13 March): “We have prioritised the transition to green energy, ensuring that this process is just and inclusive and safeguards the livelihoods of those most affected by the transition. “We also had discussions on our robust cooperation in education; science, technology and innovation; and health. “We have recognised the vital importance of developing the skills and capabilities of young people, starting from early childhood development through to the training of young people in the skills of the future.” “We welcome the announcement by the European Union of a Global Gateway Investment Package of €4.7bn to support strategic investment projects.” Fostering clean trade ties between South Africa and the EU Ramaphosa said to boost the competitiveness of “our economies, we agreed to launch negotiations towards a Clean Trade and Investment Partnership.” This, he said, will support the development of cleaner value chains for raw materials and local beneficiation, renewable and low carbon energy and clean technology. |
