Angela Merkel, German Chancellor recently visited the Union Buildings, Pretoria where she was hosted by President of South Africa, Cyril Ramaphosa. She announced that Germany will identify a few technical colleges in South Africa, in an attempt to develop skills and create more jobs in South Africa. The bilateral trade between the two countries is growing, with South Africa benefiting from the presence of some 600 German companies in South Africa, employing more than 100,000 people.
Germany is South Africa’s largest trading partner in Europe. The total trade between the two countries reached R235 billion over the 12 months towards the end of November 2019, while South African exports exceeded R100 billion for the first time, narrowing the trade deficit. “Foreign direct investment by German companies will make a valuable contribution to our effort to secure R1.2 trillion in investment over five years,” said President Ramaphosa.
German companies jointly made investment commitments of nearly R11 billion into the country’s economy at the 2nd South African Investment Conference which was hosted in 2019. The investments are mainly in the automotive and advanced manufacturing sectors.
“As I discussed with Chancellor Merkel, the acquisition of critical skills is among our foremost priorities as we prepare our workforces to adapt to the changing world of work. The knowledge and skills transfer that will come with greater German investment in South Africa will play a key role in propelling our economy to greater heights,” said President Ramaposa. He also encouraged German businesses to increase their investment footprint in South Africa.
