South Africa courts Chinese investment ahead of BRICS summit
- The country is looking to Chinese infrastructure expertise as it struggles with energy blackouts and stubbornly high long-term unemployment rates
- Trade minister Fikile Majola tells a seminar in Beijing that the country is also looking for investment in sectors such as clean energy and mining
On Tuesday, Fikile Majola, South Africa’s deputy minister of trade and industry, spoke to a business seminar in Beijing via video link, saying the country was looking to improve infrastructure.
“Despite South Africa’s success over the years, our country is facing several challenges that need our immediate attention to overcome and I wish to assure you that we are determined to change this situation for the better,” Majola said.
“We are well aware that we must prioritise economic infrastructure, especially scaling up renewable energy capacity, roads and railways, ports, and airports, telecommunications and water infrastructure.”
The country is struggling to produce enough energy – partly as a result of the breakdown of ageing coal-fired power plants and mismanagement at the state power company Eskom – as well as suffering from the impact of rising food and fuel prices driven by Russia’s war in Ukraine.
