EU Announces €4.7 Billion Investment in South Africa to Boost Energy and Vaccine Sectors

The package aims to support South Africa's clean energy transition, enhance vaccine production, and strengthen trade ties amid shifting global policies.

• The European Union unveiled a €4.7 billion investment package for South Africa, focusing on clean energy, vaccine manufacturing, and infrastructure development.
• Of the total, €4.4 billion is allocated to renewable energy projects, including solar, wind, and clean hydrogen production.
• An additional €700 million will bolster South Africa's vaccine manufacturing capacity, aiming to enhance health security and local industry growth.
• The announcement comes during the first EU-South Africa summit since 2018, with leaders addressing trade, geopolitical challenges, and multilateral cooperation.
• The investment underscores the EU's effort to deepen ties with South Africa, its largest trading partner in sub-Saharan Africa, amid tensions with the U.S. over tariffs and policy differences.

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