The European Union announced this month a €4.7 billion investment plan in South Africa, aimed at supporting the green energy transition and vaccine production. This program is part of a historic bilateral summit between the EU and the African country, the first of its kind in seven years



At this summit in Cape Town, European Commission President Ursula von der Leyen emphasized the importance of this initiative. "Our two unions were born from the depths of conflict and suffering. Today, we are jointly announcing an investment program to mobilize €4.7 billion in South Africa," she stated, stressing the need to strengthen international cooperation

South African President Cyril Ramaphosa also emphasized the need for strengthened cooperation to uphold common values: "It is time to work together to defend what we believe in—democracy, the rule of law, including respect for international law and international humanitarian law," he added

This announcement comes at a time of escalating trade tensions with the Trump administration. The U.S. president has recently threatened to impose 200% tariffs on European wine, champagne, and spirits. In response, Ursula von der Leyen stated that the EU is ready to defend its interests while remaining open to negotiations with the United States

The investment plan also falls within a context of economic rapprochement between the EU and South Africa, which is already the European Union’s main trading partner in sub-Saharan Africa. Half of this investment will be allocated to supporting South Africa’s transition from a coal-based economy to greener energy sources. The EU is emphasizing cooperation with countries like South Africa, while other global powers such as China and the United States are shifting their economic priorities

Thus, the European Union aims to strengthen its partnership with South Africa while positioning itself as a key player in the fight against climate change and the promotion of green energy on a global scale

Article source:africanews