To boost economic growth, the Department of International Relations and Cooperation (DIRCO), says it will intensify its efforts to help South African companies and State-owned enterprises pursue significant opportunities in Africa.
“We are looking to strengthen our partnerships in Africa to address business challenges and create a favourable environment for conducting business,” DIRCO Minister, Ronald Lamola, said on Thursday.
Tabling the Budget Vote for the 2024/25 financial year in Parliament, the Minister announced that the department had been allocated R6.57 billion, reflecting a 5% reduction.
He announced that South Africa has maintained its strong position as an investor in Africa over the past year, with over 450 projects in various countries.
“This achievement results from our coordinated approach and investment initiatives, and we commend the efforts of our development finance institutions, such as the Development Bank of Southern Africa and the Industrial Development Corporation,” he explained.
He also pledged to continue collaborating closely with neighbouring countries in the Southern Africa region to enhance cooperation in areas such as oil and gas, green hydrogen, water resources, and the facilitation of goods and services.
The Minister believes that these initiatives are important to bolster the country’s economy and improve the livelihoods of people while contributing towards the full attainment of the regional integration agenda.
In addition, Lamola said work was underway to hasten the completion of the Lesotho Highlands Water Project Phase II to increase energy cooperation with Mozambique and Namibia.
South Africa, he said, is also working to implement the renewed Grand Inga Treaty with the Democratic Republic of Congo.
The Grand Inga project can generate over 40 000 megawatts (MW) of electricity, sufficient to meet most of the power requirements for the entire Southern African Development Community (SADC) region.
“We have established the Coordination Mechanism for Economic Diplomacy, consisting of government departments and the private sector. This mechanism aims to facilitate cooperation among relevant public and private sector stakeholders in advancing South Africa’s interests in Africa.”
In addition, the Minister said the Government of National Unity’s statement of intent commits to a foreign policy guided by human rights, constitutional principles, and the national interest, as well as solidarity and the peaceful resolution of conflict.
“The aim is to work towards achieving the African Agenda 2063, promoting cooperation between the Global South and North, and fostering multilateralism.
“Ultimately, the goal is to contribute to the creation of a just, peaceful, and equitable world.”
He said South Africa will continue to deepen and harness its relations with partners on the continent.
According to Lamola, the country established 46 structured bilateral mechanisms, 12 of which are at the Presidential level.
“These mechanisms allow our country to exchange views on national, regional, and global issues.”
