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US President Biden announced the creation of a South Africa-U.S. Investment Advisory Task Force and a planned US $45 million investment towards the Just Energy Transition Partnership
US President Biden announced the creation of a South Africa-U.S. Investment Advisory Task Force and a planned US $45 million investment towards the Just Energy Transition Partnership.
This announcement came when President Joseph R. Biden, Jr. met with South African President Cyril Ramaphosa on Friday (yesterday). The two leaders discussed opportunities to deepen the relationship and identified the next steps on issues of mutual importance. They also discussed regional and global challenges and took stock of progress on several of the topics outlined during their initial meeting in April this year. That included trade and investment and climate and energy.
The two leaders also committed to addressing several of the world’s most urgent challenges including the Russia-Ukraine conflict and its negative consequences for food security in Africa. The meeting reaffirmed the value of longstanding partnership and underscored South Africa’s influential voice in global affairs.
President Biden said he was inspired by the long struggle for freedom and justice and recalled the first visit of Nelson Mandela to the United States when he was a Senator. He also said that over600 American companies doing business in South Africa and recalled how Ramaphosa agreed with his efforts to do away with a patent listing of Covid-19 vaccines.
Responding to President Biden’s welcome remarks, President Ramaphosa said that the United States was an important partner to South Africa from the trade and investment point of view. He endorsed that 600 companies from the US have invested and operating in South Africa. A number of them are already making huge investments. He also revealed that he and his delegation would be meeting a number of them to discuss further investment opportunities.
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Ramaphosa thanked the US for the support to South Africa and to the African continent with regard to fighting COVID-19, and making available vaccines, and the support extended when African leaders were advocating for a TRIPS waiver at the World Trade Organization. The South African president said that climate change was a matter that both countries should discuss, particularly in relation to a just transition, since many people in Africa were a bit fearful of what a just transition could mean.
