Cyril Ramaphosa strikes an R850 million investment deal with the UK
THE SOUTH AFRICAN / 18 APRIL 2018 - 17.00 / TOM HEAD
In what has been a very productive start to his UK visit, President Cyril Ramaphosa will be bringing home the bacon when he returns to South Africa.
After bilateral talks with Theresa May, the British Prime Minister agreed to support South Africa with an investment of more than R850 million (that’s £50 million pounds).
Image Credits: DIRCO
Cyril Ramaphosa secures South African investment
Cyril is something of a charmer on the international stage, as proved by his well-received appearance at the World Economic Forum earlier this year. He also made time to visit The Queen on Tuesday, as his cordial appearance went down a treat.
But could he be winning over other Heads of State on what matters the most?
In a statement released late on Tuesday evening, Downing Street confirmed the pair agree that tackling youth unemployment and social inequality “was a key priority”.
What does this mean for the UK and South Africa?
The meeting is a clear indication that the UK is committed to working closely with South Africa, with less than a year until Britain officially leaves the EU.
Downing Street reiterated its support for SA’s transformation and National Development Plan. Theresa May even revealed that the R850 million in funding will go towards alleviating poverty and “creating a wealth of opportunities” for business in South Africa:
“They agreed £50 million new UK funding across the next four years to help South Africa improve its business environment to make it more attractive to investors including in the UK, and ultimately lift some of the poorest people in South Africa out of poverty by creating jobs and opportunities.
“The funding will be used to help identify and dismantle barriers to trade within Africa and beyond, creating a wealth of opportunities for UK business over the coming years.”
It was also confirmed that the UK will be looking to “revitalise and reinvigorate” their relationship with Mzansi. Brexit or otherwise, a strong partnership with Blighty can only be a good thing for this country.
Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER