“South Africa is open for business' is the message President Cyril Ramaphosa had for a Spanish business delegation led by its Prime Minister Pedro Sánchez on Thursday.
Ramaphsoa said in 2021, Spain was South Africa’s fourth largest export destination in the European Union and fifth largest source of imports from the EU. Exports increased from R14.9bn in 2020 to R28.5bn in 2021.
Ramaphosa said South Africa’s focus is to increase the export of value-added goods and services to Spain. “Spain’s investment into South Africa is concentrated in the renewable energy, tourism, steel, automotive, water and agro-processing sectors,” he said, adding he hopes to see “massive expansion” of renewable energy in South Africa.
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