Keynote address by Deputy President Shipokosa Paulus Mashatile on the occasion of the South Africa - France Investment Conference, France

Programme Directors, Deputy Minister Alvin Botes and Ms Sonja de Bruyn;
Ambassador of South Africa to France, H.E Mr Nathi Mthethwa;
Ambassador of France to South Africa, H.E Mr David Martinon;
Ministers Motsoaledi, Creecy, Ndabeni, De Lille, and McKenzie;
Deputy Ministers Manamela, Godlimpi, and Graham-Maré; 
Minister of Commerce, Mr Laurent Saint-Martin and Representatives of the French Government here present; 
CEO of Africa Global Logitics, Mr Phillipe Labonne, business representative and leaders from France and South Africa;
Panel Members and senior Government officials, from The Presidency;

Ladies and gentlemen, 

I am here with my delegation, of ministers, deputy ministers, senior government officials from both the public sector and CEOs of state-owned enterprises as well as business leaders, to consolidate existing business and new economic trade relations between South Africa and France. 

Hence, the theme for this conference is "Advancing South Africa-France economic relations," with the aim of encouraging collaboration. It offer investors the opportunity to explore diverse investment opportunities in key sectors, such as agriculture, mining, green manufacturing, and tourism, while also fostering new trade and investment avenues, exchanging ideas, and forging partnerships to drive our economies forward. 

Ladies and gentlemen,

May is Africa Month, and as we deliberate, we must acknowledge Africa's significant role in the global economy and its developmental journey. 

Historically, Africa was a trading hub, with routes traversing the continent and linking it to the rest of the globe. The most well-known were the trans-Saharan routes. African trade routes played a crucial role in the exchange of goods, ideas, and culture, shaping African societies' history and contributing to economic growth. This demonstrates that African progenitors comprehended and envisioned a prosperous, integrated continent in which economic growth is beneficial to all.

South Africa is committed to achieving our forebears' vision of a better Africa. We believe that cooperation and global integration are crucial for economic, social, and political progress. We understand that by enhancing integration and collaborating with countries like France, we can promote inclusive economic growth.

We are determined to continue enhancing this relationship. This is because our partnership in trade and investment has already created jobs and boosted economic growth. It has been a cornerstone of our economic development, and today, we have the opportunity to explore new avenues for collaboration, investment, and growth. 

In this era of unprecedented challenges and opportunities, South Africa stands at the crossroads of a fundamental economic transformation. Our country is committed to driving a bold agenda that ensures prosperity, stability, and progress for all. 

As the world pivots to greener forms of energy, South Africa is undertaking one of the most ambitious energy transitions on the continent. With our abundant solar and wind resources, and supported by the $8.5 billion Just Energy Transition Partnership, we are creating space for strategic investments in renewable energy infrastructure, green hydrogen, battery energy storage, and skills development. 

Another important area for collaboration is on critical transition minerals, including rare earth elements, lithium, vanadium, and cobalt. These minerals are abundant in South Africa, and through beneficiation and ethical extraction, we hope to move up the value chain. In this regard, we are looking to our international partners, including France, to bring advanced technologies, innovation, and sustainable practices to this space.

We welcome partnerships with French companies like Sanofi to scale local manufacturing capacity, support technology transfer, and invest in regional health resilience. We would like to build on existing partnerships such as the ongoing collaboration between Sanofi and Biovac for the production of Hesaxim and the new tech transfer partnership signed at the launch of the GAVI Accelerator.

Equally, promising is the hemp and cannabis economy. South Africa is developing a regulatory framework that encourages investment, research, and commercialisation in this sector, which has the potential to spur industrial innovation, revitalise rural economies, and create thousands of jobs. We believe that French expertise in agritech and pharmaceuticals can play a significant role in this regard.

Ladies and Gentlemen, I would like to thank French companies for their ongoing investment and commitment to the South African economy and the region. Since the first SA Investment Conference hosted in 2018, French companies have committed more than R70 billion, with the majority of projects either completed or being implemented.

 Announcements included investment in renewable energy generation capacity by the likes of Engie, EDF, and Total Energies, as well as investment in manufacturing, retail, agribusiness, and the services sector. 

On the trade side, we need to extend our trade basket, and South Africa will be a partner for high value-added products. To this end, we have a list of the top 100 products that we would like to introduce to the French market through inward buying missions, exhibitions, and sourcing.

Ladies and gentlemen,

South Africa remains a competitive business and investment hub despite global economic challenges. Our goal is to unlock significant opportunities across various sectors, promoting sustainable economic growth and inclusive development while maximising trade and investment opportunities.

We are committed to policy certainty, regulatory reform, and facilitating ease of doing business through our One Stop Shop platform. We are working across government and with the private sector to resolve bottlenecks and accelerate high-impact investments.

We have curated an investment project book of $40 billion of private and public sector projects that are ready for investment. I urge you to have discussions with Deputy Minister Zuko Godlimpi and the DTIC team to explore these investment opportunities.

As we attract more investment and increase trade in various sectors, it is crucial that we also possess the necessary skills to match the investment. We appreciate French partnerships in skills and internships and are eager to see more of these initiatives. 

In South Africa, we have introduced the National Skills Development Plan (NSDP) 2030 to ensure a skilled workforce with the right competencies for economic growth and social development. With the increasing importance of digital technologies, we are investing in digital skills, AI, data science, and cybersecurity.

In this regard, we are also modernising government services through investing in digital public infrastructure.

We have a long-term infrastructure investment programme in partnership with the private sector, labour, and civil society. The plan is to spend over R940 billion on new and existing infrastructure over the next three years.

In conclusion, South Africa, strategically placed at the tip of the African continent, is an important investment site, both for the market prospects inside its boundaries and as a gateway to the rest of the continent, which has a population of around one billion people.

We wish to collaborate with France by investing in infrastructure like ports, power, and manufacturing to promote local value-added and trade through the African Continental Free Trade Area.

South Africa’s G20 Presidency under the theme ‘Solidarity, Equality, Sustainability’ aims to boost investment and trade in the country and across Africa. We will focus on fostering inclusive growth through trade, addressing global challenges like climate change and food security, and promoting green industrialisation and resilient supply chains. 

We consider France not only as a friend but also as a strategic partner in achieving our vision of shared growth. On the margins of the G20 Summit, we will host the Presidential Investment Conference and look forward to seeing you. 

Ladies and gentlemen,

Together, we can unlock immense potential and create shared prosperity for our nations. I am confident that this gathering will serve as a catalyst for deeper collaboration and open up new horizons for our bilateral relations.

I urge all participants to actively participate in discussions, share insights, and develop action plans to enhance our economic relations.

I thank you.