SA President Urges Chinese Businesses to Invest in Green Economy and Innovation

The President highlighted South Africa's policies promoting the electric vehicle industry, inviting companies like BYD and CATL to consider South Africa as a strategic hub for reaching other markets.

During his State Visit to China, President Cyril Ramaphosa called on Chinese businesses, particularly those in Shenzhen, to invest in South Africa, emphasizing the abundant opportunities for growth and development in the country.

Speaking at the Shenzhen Business Roundtable, President Ramaphosa highlighted South Africa’s potential to integrate into global value chains, particularly in sectors like technology, innovation, and the green economy. He expressed admiration for Shenzhen’s transformation into a leading digital supply chain hub over the past four decades, noting that South Africa could learn valuable lessons from the city’s success.

"Shenzhen's rise as a leader in the knowledge economy is inspiring. As we work to develop our economy, we look forward to learning from Shenzhen's journey and to receive support in areas like planning, infrastructure, and skills development," President Ramaphosa said.

He emphasized South Africa's commitment to reducing carbon emissions in line with global goals, pointing out that the country’s energy transition presents numerous opportunities for job creation and economic growth. The President highlighted South Africa's policies promoting the electric vehicle industry, inviting companies like BYD and CATL to consider South Africa as a strategic hub for reaching other markets.

With a significant pipeline of over 130 private sector energy projects set to generate approximately 22,500 MW of electricity, primarily from renewable sources, South Africa is making substantial investments in electricity generation and transmission infrastructure. These efforts, Ramaphosa noted, will secure the country's energy supply and lay the groundwork for the growth of the advanced manufacturing sector.

President Ramaphosa also pointed to the African Continental Free Trade Area (AfCFTA) as a catalyst for industrialization across the continent, further enhancing South Africa's position as a leader in green energy and related industries. He expressed optimism about the potential for partnership with Shenzhen in driving this transformation.