Japanese companies eye massive expansion in South Africa, says Cyril Ramaphosa
South African President, Cyril Ramaphosa
South African President Cyril Ramaphosa has emphasised Japan’s increasing interest in expanding business operations in South Africa, following his high-level visit to Tokyo.
Speaking at the conclusion of the 9th Tokyo International Conference on African Development (TICAD) in Yokohama on Saturday, Ramaphosa said the discussions during the summit were highly productive and underscored the potential for deeper economic ties between the two nations.
During the summit, Ramaphosa was accompanied by a high-level South African business delegation, which engaged with Japanese business leaders to explore opportunities for investment across a variety of sectors. These engagements were part of broader efforts to strengthen South Africa’s position as a key destination for foreign direct investment and a gateway to the rest of the African continent.
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“Japanese firms recognise South Africa as a strategic gateway to the wider African market,” Ramaphosa said. “They are keen to leverage the African Continental Free Trade Area (AfCFTA) to expand their operations across the continent. This presents a significant opportunity for both South Africa and African economies more broadly.”
South Africa already benefits from substantial Japanese investment, with total investments exceeding R90 billion. These investments span multiple sectors, including manufacturing, automotive, technology, and infrastructure. Ramaphosa’s discussions with Japanese officials, including a bilateral meeting with Japan’s Prime Minister Shigeru Ishiba, focused on creating a conducive environment for further investment and encouraging Japanese companies to consider South Africa as a base for continental expansion.
The president’s visit reflects South Africa’s commitment to fostering strong international partnerships and demonstrates the mutual interest in promoting sustainable economic growth and trade diversification. As Japan continues to look at South Africa as a springboard for broader engagement across Africa, these efforts are expected to enhance bilateral trade, create jobs, and stimulate economic development.
