South Africa: President Ramaphosa Urges Congolese Companies to Invest in SA

7 July 2023
SAnews.gov.za (Tshwane)

President Cyril Ramaphosa has called on Congolese businesses to invest in South Africa and for local companies to do the same.

The President labelled the Democratic Republic of the Congo (DRC) as the beating heart of Africa, with immense importance to the continent's history.

"The DRC has an equally important role to play in the future of our continent, with its minerals propelling the new green industrial revolution.

"It is for this reason that we want to see more South African companies investing in the DRC, and likewise to see more Congolese companies investing in the South African economy," the President said on Thursday.

The country's First Citizen was speaking in Kinshasa where he kicked off his working visit at the invitation of President Félix Tshisekedi.

He co-chaired the Heads of State and Government segment of the 12th Session of the DRC-South Africa Bi-National Commission (BNC).

President Ramaphosa said the BNC between the two countries underscores the importance of their relationship.

He told the delegates that the visit was taking place amid challenges.

These, according to him, include the effects of the COVID-19 pandemic, rising food and fuel prices due to the Russia-Ukraine war, and climate change that is negatively impacting economies and communities.

"And yet even though we face some challenges, we are a continent brimming with potential and opportunity.

"From North Africa to South Africa, from East to West, and here in Central Africa, we are favoured with vast endowments."

He reminded the officials that the countries have abundant mineral resources and fossil fuel reserves, large arable land, and abundant water supply.

"We have a diverse terrain that supports all manner of infrastructure development, including renewable energy.

"And yet these vast endowments are not producing favourable economic and developmental outcomes evenly across the continent."

However, he said they were meeting businesses because both nations see the opportunities.

"Beyond our natural endowments, we have many other strengths as a continent."

Read the original article on SAnews.gov.za.

Tagged:
Copyright © 2023 SAnews.gov.za. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.