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The European Union announced a $5.1 billion investment package for South Africa as part of efforts to strengthen ties. The funds are intended to support the clean energy transition, vaccine manufacturing, and digital connectivity, the bloc said.
EU Commission President Ursula von der Leyen announced the investment on Thursday at a summit between the bloc’s leaders and their South African counterparts in Cape Town.
She said the bloc wanted to support the growth of Africa’s most industrialized economy.
South Africa’s President Cyril Ramaphosa said his country’s “partnership” with the EU is based on “shared values and common interests.”
The summit — the eighth of its kind — took place at a time when the EU and South Africa have both seen relations with the US deteriorate since Donald Trump returned to the White House in January.
