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President Cyril Ramaphosa has outlined South Africa’s vision to transform its economy by becoming a global “manufacturing hub.” Speaking at the South Africa-China Business Forum on Wednesday, during his State Visit to China, Ramaphosa emphasized plans to shift the nation from an importer of manufactured goods to a major exporter.
“We intend to modernize our infrastructure and revolutionize the energy sector, especially focusing on renewable energy and green hydrogen,” Ramaphosa stated. He encouraged Chinese companies to explore the vast manufacturing opportunities in South Africa, noting the country’s industrial prowess, particularly in the automotive industry.
Highlighting collaboration with China, Ramaphosa said, “By working together, we can create mutually beneficial value chains, drive job creation, and stimulate economic growth. South Africa also seeks to leverage technology transfer and innovation.”
Ramaphosa praised China’s track record in renewable energy, stressing the importance of sustainable, climate-resilient solutions for both nations.
Bilateral trade between South Africa and China, which has grown by a third since 2019, is largely focused on minerals and agricultural exports from South Africa, while China supplies manufactured goods. Ramaphosa emphasized the need to shift this trade balance, deepen investment, and build on the over R18 billion ($1 billion) in Chinese investment since 2018.
The President also underscored the opportunities for further collaboration in sectors such as electric vehicles, critical minerals, and the digital economy. “South Africa is poised for growth, and we aim to play a pivotal role in the African Continental Free Trade Area,” he added, promoting the nation as an ideal gateway for investment into Africa’s expanding market.
Ramaphosa concluded by urging for stronger business partnerships and the seizing of new opportunities to strengthen the economic relationship between South Africa and China, paving the way for a more prosperous future.
