Madrid – President Cyril Ramaphosa has urged Spanish businesses to deepen their investment in South Africa, highlighting opportunities in renewable energy, critical minerals, and industrial cooperation.
President Ramaphosa extended the invitation to invest in South Africa on Friday, April 17, 2026, during his address at the Spain–South Africa Business Forum in Madrid.
He praised Spain as a “valued partner” and emphasised the complementary nature of the two economies.
“Our countries do not compete. We complement each other, demonstrating how strategic partnerships can strengthen global value chains,” President Ramaphosa said.
Trade between the two nations reached €2.8 billion in 2025, with South Africa’s exports to Spain rising 10 percent to €1.3 billion.
Nearly half of South Africa’s exports to Spain are motor vehicles.
He revealed that Spain was now South Africa’s fastest-growing major trading partner within the European Union.
More than 150 Spanish companies operate in South Africa, supporting more than 20 000 jobs in sectors ranging from renewable energy to tourism.
“Such concentration creates vulnerability,” President Ramaphosa warned, calling for diversification into agro-processing, pharmaceuticals, sustainable fuels, and beneficiated critical minerals.
He pointed to South Africa’s vast reserves of platinum group metals as a strategic advantage in the global shift toward clean energy.
“South Africa brings the resource base. Spain brings technological capability, investment and market access. Together, this creates the foundation for a new kind of partnership,” President Ramaphosa said.
Spain has committed more than €2.1 billion to South Africa’s just energy transition, with projects in green hydrogen, electric vehicles, and renewable infrastructure.
President Ramaphosa highlighted ongoing Spanish-led projects, including Acciona’s wind farms and Iberdrola’s Jasper Solar Plant, as examples of successful collaboration.
He also addressed climate policy, cautioning against measures that could disadvantage developing economies.
“We are not opposed to the principle of carbon accountability,” President Ramaphosa said.
“What we ask is that climate measures be accompanied by the necessary climate finance, technology transfer, and transitional arrangements.”
President Ramaphosa concluded with a call to action, presenting a pipeline of 85 investment-ready projects valued at €62 billion.
“Our message to every Spanish company in this room is that South Africa is open for business,”’ he said.
“We invite you to partner with us not only as investors, but as long-term industrial partners.”
The forum underscored South Africa’s ambition to position itself not just as a supplier of raw materials, but as a manufacturing partner in the industries of the future.
President Ramaphosa is on a three-day working visit to Spain.
RELATED: President Ramaphosa Begins 3-Day Working Visit To Spain – The Bulrushes
Apart from meeting business persons in Spain, President Ramaphosa also met the Prime Minister of Barbados, Mia Amor Mottley.
