EU Announces €4.7 Billion Investment in South Africa to Strengthen Ties

The funding focuses on clean energy, vaccine manufacturing, and economic cooperation as South Africa navigates reduced U.S. support.

The European Union unveiled a €4.7 billion investment package under its Global Gateway Initiative, focusing on green energy projects, vaccine production, and infrastructure development in South Africa.
The investment aims to support South Africa's transition to clean energy, including hydrogen power, while minimizing socio-economic disruptions in coal-dependent communities.
South African President Cyril Ramaphosa emphasized the importance of multilateralism and shared values in the partnership, highlighting the EU's role as a key trading and investment partner.
The summit comes after the U.S. withdrew climate funding and cut aid to South Africa, with EU leaders stressing their commitment to long-term cooperation.
EU representatives also addressed global geopolitical challenges, seeking to bolster ties with South Africa as part of a broader strategy to strengthen alliances and counter unilateral policies.