President Cyril Ramaphosa has announced South Africa’s intent to collaborate with Nigeria to extract critical minerals, particularly lithium, to facilitate the transition to green energy and support the production of electric vehicle (EV) batteries.
This announcement was made on Tuesday during the Nigeria-South Africa Business Roundtable in Cape Town.
Ramaphosa emphasized the potential of Nigeria’s extensive lithium reserves as a foundational element for industrial development within the EV sector. He called for cooperation between the private sector and development finance institutions to enhance infrastructure and manufacturing capabilities in this area.
He noted, “There is also much opportunity for cooperation on pharmaceuticals. Our two countries are strategically positioned to benefit from the rapid growth of clean energy manufacturing industries.”
Ramaphosa pointed out that South Africa has established a Just Transition Framework and an Investment Plan aimed at attracting significant investments in renewable energy and the green economy over the coming years.
In his address, he stressed the importance of utilizing the abundant natural resources available in both nations to promote green industrialization as part of a global shift towards a low-carbon economy.
“We should leverage each other’s capabilities in minerals processing. We must work together to ensure critical minerals are beneficiated at source,” he stated, urging businesses to engage actively in these initiatives.
Additionally, President Ramaphosa affirmed South Africa’s strong support for Nigeria’s bid to join the G20, referring to Nigeria as “a valued sister country.” This commitment was reiterated during his discussions with Nigerian President Bola Ahmed Tinubu at the official launch of South Africa’s G20 presidency.
He expressed that South Africa, along with the African Union, represents the continent in the G20 and advocated for the inclusion of other significant African nations to amplify Africa’s voice on the global stage.
Ramaphosa remarked on South Africa’s historical role as a representative for Africa in this forum and emphasized that “we have a voice, we have a presence,” highlighting the continent’s potential for growth and influence.
