S-Africa enhances trade relations with Japan

(MENAFN) South African President Cyril Ramaphosa met with Japanese business leaders in the renewable energy and automotive sectors during the 9th Tokyo International Conference on African Development (TICAD9) in Yokohama, Japan, as part of a strategic push to diversify South Africa’s economy amid a 30% surge in US tariffs.

Japan is a major investor in South Africa, with over R90 billion invested and 260 companies supporting more than 150,000 local jobs. Ramaphosa met with Mitsui, which holds a 27.5% stake in Mainstream Renewable Power and manages a 12GW wind and solar pipeline in South Africa, recently achieving financial close on a 97.5MW solar project for Sasol/Air Liquide. Mitsui is a leading Japanese trading company focused on decarbonization and next-generation fuels.

The South African president also held discussions with Shinsuke Minami, President and COO of Isuzu Motor Corporation, whose Gqeberha facility produces the 7th-generation D-MAX and serves as a supply hub for Sub-Saharan Africa, exporting to 34 markets and shipping KD kits to Kenya for assembly. Additional meetings are planned with Mitsubishi Heavy Industries and JETRO executives.

Ramaphosa’s engagements aim to strengthen trade and investment relations with Japan, advance South Africa’s G20 presidency, and foster broader economic collaboration. In 2024, bilateral trade totaled R132 billion, with a R52 billion surplus largely driven by platinum exports and growing agricultural trade in products such as avocados and nuts.

Both nations also cooperate in science, technology, and innovation, promoting inclusive economic development and building on 115 years of diplomatic ties. Entrepreneur Sibusiso Ngwenya praised Ramaphosa’s efforts, noting that attracting Japanese automakers and technology would support local businesses and help South Africa’s auto sector remain competitive and profitable.

MENAFN25082025000045015687ID1109969876