![President Ramaphosa also asserted that strengthening the multilateral trading system and recognising the World Trade Organisation remains the only multilateral body capable of managing divergences and coordinating positions in global trade. [Picture: GCIS]](https://independentnews.co.sz/wp-content/uploads/2025/10/54842931694_551168973d_k.jpg)
Brussels – South African President Cyril Ramaphosa has welcomed a new €11.5 billion (about R230 billion) investment package from the European Union, describing it as a major boost for the country’s economy and a reinforcement of its long-standing ties with Europe.
The announcement was made on Thursday during a joint media briefing with European Commission President Ursula von der Leyen at the EU headquarters in Brussels, Belgium. The investment forms part of the EU’s Global Gateway initiative, which seeks to strengthen global cooperation in sustainable development and infrastructure.
President Ramaphosa said the funding will support South Africa’s economic transformation by focusing on green hydrogen, renewable energy, critical minerals, battery manufacturing, vaccine production, and major infrastructure projects such as roads, rail, and digital connectivity.
“These investments will help to build the economy of the future in the South Africa of the present,” Ramaphosa said, adding that the package will also promote small business growth, research, and skills development.
The European Union remains South Africa’s largest trading partner and leading source of foreign direct investment, accounting for 41 percent of total inflows. Over 2,000 EU-linked companies currently operate in the country, supporting more than half a million jobs.
Ramaphosa said the new package aligns with the Clean Trade and Investment Partnership agreed at the South Africa–EU Summit held in Cape Town in March 2024. The partnership aims to accelerate the continent’s transition to clean energy, promote industrial growth, and enhance technology transfer across African economies.
He expressed optimism that the agreement will strengthen South Africa’s just energy transition while positioning Africa as a key player in global clean production.
President Ramaphosa also thanked the EU for its support of South Africa’s G20 presidency and said he looks forward to welcoming President von der Leyen to Johannesburg next month for the G20 Leaders’ Summit, where both sides will continue discussions on advancing a fair and sustainable world economy.
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