Key City – EU leader Ursula Von Der Leyen announced that Europe’s investments in Europe in South Africa, Europe to determine the impact of the United States in one country.
The investment package would mobilize 4.7 billion euros ($ 5 billion) for South Africa, Von Der Leyen, President of the Council of Europe, Antonio Costa and South African President Cyril Ramaphosa said at the summit in the summit.
Most of this – 4.4 billion euros – financing of clean energy projects such as using the wind and the sun, and the production of clean hydrogen, said the EU is in publication.
4.4 billion euros from the Global Gateway package will go to projects supporting a clean and fair energy transition in South Africa.
The African campaign is a significant first collateral in the context of the upbringing of renewable energy.
I hope that many others will give you the opportunity to contribute to others! pic.twitter.com/xcv4gazuz5
– Ursula Von Der Leilen (@VastyPyrene) 13 March 2025
“We want to strengthen and diversify our supply chains. But we want to do it in cooperation with you,” said Von Der.
“Some countries are interested in justifying material from the ground and export profit in other places. This is not our model. We want to support local work, local value and high environmental and labor standards.”
Investment will spend 700 million euros in South Africa, the most industrialized economy of the continent in South Africa.
“South Africa wants to protect your health, as well as your autonomy and your local industry. We want to diversify some of our most critical supply chains. This is what I am interested in von.”
South Africa is the largest trading partner of Africa worth 24 billion euros in 2023 in 2023.
The trade deficit, however, in favor of the EU, and in 2023, the total two-sided trade value was worth 49.5 billion euros.
📍 In the city of Cape Town for the top
Our goal: to strengthen our strategic partnership on the board with South Africa.
Implement our cooperation in trade, investments, critical raw materials and clean energy.
And with a new global gateway package. pic.twitter.com/df84khqdqz
– Ursula Von Der Leilen (@VastyPyrene) 13 March 2025
The EU foreign direct investment in South Africa was around 71 billion euros in 2022.
Both sides have been fighting Washington’s dramatic policies since US President Donald Trump returns to the White House this year.
The Trump’s government targeted the South African government, frozen solvents and criticized several politics.
Washington, the EU applied 25 percent of tariffs in steel and aluminum imports. On Thursday, President Donald Trump threatened the 27-nation block with a 200 percent tariff for wine, champagne and other alcohol products.
Follow African Insider side Facebook, Twitter and Instagram
Source: AFP
Photo: X /@vonderyyen
For more than African newsVisit Africaninsider.com
