The European Union has announced plans to invest $13.3 billion in South Africa to boost clean energy, infrastructure, and pharmaceutical manufacturing. The funding—one of the EU’s largest commitments to Africa this year—will mostly be channeled toward South Africa’s renewable energy sector, supporting the construction of new power plants, grid upgrades, and green hydrogen production like the Coega Green Ammonia Project. The move comes as South Africa grapples with sluggish growth, high unemployment, and a 30% US tariff on its exports. The partnership also seeks to bolster local vaccine production for the African continent while creating a more sustainable and resilient economic future for the nation. While it’s unclear if this pledge includes a previous $5.4 billion commitment, the EU’s investment underscores growing European interest in powering South Africa’s green transition.
SEMAFOR
