Ramaphosa Strengthens Ties with Japanese Firms
(MENAFN) South African President Cyril Ramaphosa engaged with several Japanese companies involved in renewable energy and the automotive industry during the 9th Tokyo International Conference on African Development Summit (TICAD9) held in Yokohama, Japan.
These meetings took place alongside the summit, focusing on fostering collaboration between South Africa and Japan.
This diplomatic and economic initiative by Ramaphosa aims to advance South Africa’s economic framework and diversification efforts, especially in response to the recent 30% increase in tariffs imposed on exports to the US market.
Japan stands as one of the leading investors in South Africa, with an investment exceeding R90 billion and 260 Japanese firms operating in the country, supporting over 150,000 local employment opportunities.
During the summit, Ramaphosa met with Mitsui, a strategic investor holding a 27.5% share in Mainstream Renewable Power.
This company currently manages a 12GW wind and solar pipeline in South Africa and recently achieved financial closure for a 97.5MW solar farm project for Sasol/Air Liquide.
Mitsui is recognized as a premier sōgō shōsha — Japanese general trading companies involved in a broad spectrum of goods and materials — with a significant focus on next-generation fuels and decarbonization technologies.
Additionally, Ramaphosa conducted a bilateral discussion with Shinsuke Minami, President and Chief Operating Officer of Isuzu Motor Corporation, on the sidelines of the summit.
Isuzu Motors South Africa (IMSA), based in Gqeberha, Eastern Cape, manufactures the 7th-generation D-MAX following a R1.2 billion upgrade to its plant, which included enhancements to the body shop, chassis line, and paint shop.
IMSA serves as a supply center for Sub-Saharan Africa, exporting the D-MAX to 34 regional markets and providing knock-down kits to Kenya for assembly locally.
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