European Union pledges €11.5 billion investment in South Africa

(Photo: Reuters)

The European Union has pledged €11.5 billion to South Africa to support clean energy, infrastructure, and pharmaceutical projects.

According to Reuters, a significant portion of the funding will accelerate South Africa’s transition to renewable energy, including investments in new power generation capacity, grid upgrades, energy storage, and green hydrogen initiatives. The EU says the investment aims to bolster sustainable development while fostering stronger economic ties between Europe and Southern Africa.

Officials highlighted that the funding will also support broader infrastructure and healthcare projects, reinforcing South Africa’s role as a regional economic leader.