Pretoria – South African Deputy President Paul Mashatile announced on Friday night that government and French authorities have concluded a major financing agreement to support the country’s energy transition efforts. The development is of interest to regional observers in Eswatini, as South Africa’s energy stability directly affects cross border trade and economic activity.
Mashatile confirmed that he and French President Emmanuel Macron welcomed the signing of South Africa’s Just Energy Transition Investment Plan between the AFD Group, led by director general Remy Rioux, and Transnet Group chief executive Michelle Philips. The agreement was signed during Macron’s visit to Pretoria, where he was received at OR Tambo House.
The memorandum of understanding provides a loan facility worth 300 million euros, equivalent to about six billion rand. The funding will support South Africa’s shift towards cleaner and more sustainable energy sources, a transition that also influences neighbouring economies connected to South Africa’s power and logistics systems.
Mashatile noted that Macron’s visit coincided with the launch of the South Africa France Business Council, an initiative expected to strengthen commercial cooperation between the two countries. He said the council aims to widen business networks, improve visibility for participating companies and provide expert guidance for businesses looking to enter or expand within each market.
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