Mashatile’s France Visit Aims to Deepen Economic Ties and Attract New Investment

Deputy President Paul Mashatile is in France this week leading a powerful South African delegation with a clear goal: attract more investment, deepen trade relations, and open new doors for collaboration in sectors that can drive inclusive economic growth.

Accompanied by ministers, senior officials, and business leaders from both government and the private sector, Mashatile is participating in a high-level economic conference under the theme “Advancing SA-France Economic Relations.” His message? South Africa is open for business and ready to partner with countries like France to grow its economy in sustainable and innovative ways.

“We are here to build on a strong foundation,” said Mashatile. “Our aim is to find fresh opportunities and expand investment and trade between our two nations.”

Energy, Innovation, and Green Growth

One of the focal points of the visit is South Africa’s ambitious energy transition. With abundant wind and solar resources, the country is ramping up its renewable energy sector. Mashatile welcomed the involvement of French companies like Engie and TotalEnergies in energy storage and clean power procurement programs.

“This is one of the most ambitious energy transitions on the African continent,” he said, referencing the Just Energy Transition Partnership as a key enabler.

South Africa is also keen to tap into its mineral wealth — especially critical minerals like lithium and cobalt — by collaborating with global partners to introduce advanced technology, improve beneficiation processes, and ensure sustainability.

Boosting Local Industry and Healthcare Resilience

Mashatile also drew attention to South Africa’s growing health innovation space, particularly its mRNA technology hub. He called for deeper partnerships with French pharmaceutical firms to strengthen vaccine production and reduce reliance on imports.

Citing the partnership between Sanofi and South Africa’s Biovac on the Hexaxim vaccine, he noted that ongoing collaboration is already bearing fruit.

Meanwhile, the country’s cannabis and hemp industries are also gaining traction. Mashatile highlighted efforts to develop a supportive regulatory framework that will attract investment, stimulate job creation, and unlock rural economic potential.

Creating Jobs Through Skills Development and Trade

With over R70 billion in French investment already committed since 2018, South Africa is looking to keep the momentum going. Mashatile emphasized the need to boost exports of high-value South African goods to France, with support through trade missions and exhibitions.

However, economic growth must go hand-in-hand with workforce development. That’s why the Deputy President praised France’s role in training South African youth and shared plans under the National Skills Development Plan 2030. Priority areas include digital skills, AI, cybersecurity, and data science.

Easing Business and Cutting Red Tape

A major takeaway from Mashatile’s address was the call for urgency in clearing bureaucratic hurdles that deter investment. He emphasized government’s commitment to policy clarity, regulatory reform, and creating a business-friendly environment through platforms like the one-stop shop for investors.

“We’re curating an investment pipeline worth $40 million, ready for immediate commitment,” he said, urging officials to fast-track approvals and remove red tape.

In summary, Mashatile’s trip is more than just diplomatic niceties—it’s a bold move to position South Africa as a trusted, innovation-ready partner for France and other global investors. From renewable energy to healthcare and rural industrialisation, South Africa is aiming to turn partnerships into progress.

{Source: IOL}

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