Ramaphosa Secures €62bn Investment Pipeline with Spain

President Cyril Ramaphosa highlighted 85 investment projects worth over €62 billion with Spanish businesses, seeking long-term partnerships in various sectors, including energy transition and pharmaceuticals. Bilateral trade reached approximately €2.8 billion in 2025, with South African exports to Spain increasing by 10% to €1.3 billion, making Spain the fastest-growing major trading partner within the EU.

Ramaphosa emphasized the need for diversification away from raw material exports, particularly motor vehicles, to strengthen the trade relationship. He invited Spanish capital and technology to enhance local manufacturing capabilities, while cautioning against regulatory frameworks like the EU Carbon Border Adjustment Mechanism that may disadvantage developing economies. The partnership was framed as a strategic alignment of resources and technological capabilities aimed at building resilient and sustainable supply chains.