How Paul Mashatile's visit to France aims to boost South Africa's economic ties

IOL News

21-05-2025

Deputy president Paul Mashatile highlights South Africa's push for digital transformation, emphasizing investment in digital skills, artificial intelligence, data science, and cybersecurity to drive inclusive growth and global competitiveness.
Image: file
Deputy President Paul Mashatile is leading a high-level South African delegation on a working visit to France, aimed at strengthening bilateral relations and mobilising greater investment between the two countries.
The delegation includes ministers, deputy ministers, senior government officials, and business leaders from both the public and private sectors.
Speaking at a bilateral economic conference in France under the theme 'Advancing SA-France Economic Relations,' Mashatile highlighted the significance of enhancing trade, promoting investment, and encouraging collaboration between the two nations.
He noted that the conference is 'a platform to build on this foundation, exploring new opportunities and expanding investments, trade and cooperation that will benefit our people and economies.'
Mashatile reaffirmed South Africa's commitment to multilateralism, sustainable development, and global economic integration.
'We understand that by enhancing integration and collaboration with countries like France, we can promote inclusive economic growth,' he said.
He pointed out that the existing trade and investment relationship between the two countries has already generated jobs and stimulated economic activity.
Energy transition is a central pillar of South Africa's strategy for growth, with Mashatile highlighting the country's renewable energy potential and international backing.
'South Africa is undertaking one of the most ambitious energy transitions on the continent,' he said, referencing the country's abundant solar and wind resources and the Just Energy Transition Partnership.
He welcomed the involvement of French companies such as Engie and TotalEnergies in South Africa's renewable energy procurement programs and energy storage initiatives.
Mashatile also identified strategic collaboration opportunities in the extraction and beneficiation of critical minerals such as lithium, cobalt, and rare earth elements. 'We are looking into our international partners, including France, to bring advanced technologies, innovation and sustainable practices in this space,' he said.
He stressed the importance of strengthening healthcare systems and reducing dependency on external sources for essential medicines. Highlighting South Africa's mRNA technology hub, he welcomed partnerships with French firms to bolster vaccine manufacturing and regional health resilience.
'We welcome partnerships with French companies like Sanofi to scale local manufacturing capacity, support technology transfer and invest in regional health resilience,' he said, adding that the partnership between Sanofi and Biovac for the production of the Hexaxim vaccine and new collaborative initiatives were already underway.
Mashatile also underlined the economic potential of South Africa's hemp and cannabis industries. 'SA is developing a regulatory framework that will encourage investments, research and commercialisation in this sector which has the potential to spur industrial innovation, vitalise rural economies and create thousands of jobs,' he said.
'I stress here rural economies because that's exactly where you find hemp.'
He expressed appreciation for French investment in the South African economy, noting that since the first South Africa Investment Conference in 2018, French companies have committed over R70 billion to various sectors, including renewable energy, manufacturing, agribusiness, and retail.
He encouraged expansion in trade by introducing more South African high-value products to the French market through missions, exhibitions, and sourcing platforms.
Mashatile stressed the importance of a conducive investment climate, citing the government's commitment to regulatory reform and ease of doing business.
'We are committed to policy certainty, regulatory reform, and facilitating the ease of doing business through our one-stop shop platform. We are working across government and the private sector to resolve bottlenecks and accelerate high-impact investments,'' he said. Calling for urgency in unlocking investment, he urged senior officials to act decisively: 'Ministers, deputy ministers and DGs, let's cut to the red tape.'
He announced the curation of an investment portfolio of private and public sector projects valued at forty million dollars, ready for immediate investment. To match these investment efforts, Mashatile emphasised the need for a skilled workforce.
He acknowledged ongoing French support in training and internships and highlighted South Africa's National Skills Development Plan for 2030, aimed at preparing the workforce for the demands of a modern economy.
'With the increasing importance of digital technologies, South Africa is focused on developing digital skills, artificial intelligence, data science, and cybersecurity,' he said.
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