Ramaphosa meets with UK PM for ‘ambitious R110b investments’

November 23, 2022 0 By Cypher9ja



Before President Cyril Ramaphosa wraps up his state visit to the United Kingdom, he is meeting with UK Prime Minister Rishi Sunak at 10 Downing Street.

Ramaphosa and Sunak will discuss bilateral trade, investment and infrastructure development in South Africa, as well as cooperation in the resolution of global challenges.

UK and SA partnership

The next phase of the partnership, according to Prime Minister Sunak, will be launched today and will offer increased access to UK companies.

Investment opportunities of R110 billion

This will allow for the development of projects worth as much £5.37 billion (R110 billion) over the next three years.

It will also extend to the UK’s offer of new grant-funded technical assistance to South Africa “to unlock green hydrogen opportunities and boost skills”.

Prime Minister Sunak said SA is “already the UK’s biggest trading partner on the continent”, saying he and Ramaphosa have “ambitious plans”.

“I look forward to discussing how we can deepen the partnership between our two great nations and capitalise on shared opportunities – from trade and tourism, and security and defence,” Sunak added.

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Creating jobs and boosting trade

Meanwhile, UK Foreign Secretary James Cleverly said South Africa “is hugely important” and a partnership would create jobs and enhance trade for both countries.

Trade Secretary Kemi Badenoch described the deliberations as “a new era of [the UK’s] dynamic trade relationship with South Africa”.

“These new opportunities will unlock trade and investment for businesses from the Eastern Cape to East Anglia and boost growth, create jobs and future-proof our economies against a changing world.”

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Francis Crick Institute for biomedical research

Earlier today, Ramaphosa met with staff at the Francis Crick Institute for biomedical research in London at the end of his visit to the institute.

The institute is the base for a number of young South African scientists.

The Francis Crick Institute has close partnerships with South African universities and research institutions and counts a number of South African scientists among its staff.

The institute also has a range of partnerships with South African universities and other research institutions.

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