President Cyril Ramaphosa announced this when he hosted Merkel, who is on a two-day official visit to the country, at the Union Buildings in Pretoria.
“As I discussed with Chancellor Merkel, the acquisition of critical skills is among our foremost priorities as we prepare our workforces to adapt to the changing world of work.
“The knowledge and skills transfer that will come with greater German investment in South Africa will play a key role in propelling our economy to greater heights,” Ramaphosa said.
During the meeting, Ramaphosa said he encouraged German businesses to increase their investment footprint in South Africa – a call he first made when South Africa held its Inaugural Investment Conference in 2018.
Germany is South Africa’s largest trading partner in Europe and its second largest trading partner overall.
At the second South Africa Investment Conference in 2019, German companies jointly made investment commitments of nearly 740 million euros into the country’s economy.
Bilateral trade between the two countries is growing, with South Africa benefiting from the presence of some 600 German companies in South Africa, employing more than 100,000 people – mainly in the automotive and advanced manufacturing sectors.