European Commission President Ursula von der Leyen announced a new investment

European Commission President Ursula von der Leyen announced a new investment package of $5.10 billion (4.7 billion euros) for South Africa on Thursday during the eighth EU-South Africa summit held in Cape Town.
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This funding will support projects focused on the "clean energy transition" and initiatives aimed at enhancing vaccine production, as stated in a video shared on X.

Von der Leyen emphasized the Commission's recognition of South Africa's commitment to safeguarding the "health of its citizens, autonomy, and local industries." She noted that "Europeans are eager to diversify some of our most essential supply chains, and we understand that viruses do not recognize borders."

These comments were made in the presence of South African President Cyril Ramaphosa and European Council President Antonio Costa.

In his opening address, Ramaphosa highlighted that the summit reflects the "long-standing and close relationship" between the two regions, which is founded on shared values and mutual interests.

The Council of the European Union identified South Africa as the EU's largest trading partner in Sub-Saharan Africa, with trade in goods amounting to $53 billion (49 billion euros) in 2023.
Source@ Straight talk Africa

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