Economic relations between South Africa and France are increasingly shifting beyond traditional trade towards industrialisation, technology, infrastructure development and the green economy, Deputy Trade and Industry Minister John Steenhuisen said at the 5th France-South Africa Business Forum in Johannesburg.
Addressing business leaders, investors and policymakers from both countries, Steenhuisen said recent investments by French companies demonstrated a growing focus on productive sectors that support South Africa’s industrialisation agenda.
“These investments demonstrate very clearly that our partnerships are evolving. They are evolving from the traditional mode of trade towards industrialisation, technology, innovation, infrastructure and, importantly, the green economy,” he said.
The forum was convened to identify new commercial opportunities, strengthen bilateral partnerships and promote investment between South Africa and France.
Steenhuisen said bilateral trade between the two countries reached approximately $3.6 billion in 2024 while French companies have established a significant footprint in South Africa, operating more than 480 establishments and supporting nearly 100,000 jobs.
The minister also highlighted commitments made at the 2026 South Africa Investment Conference where 30 French companies pledged investments worth about R20.7 billion ($1.3 billion).
Among the major projects illustrating the changing nature of the relationship is French agribusiness company Soufflet Malt’s R2 billion investment in a new malting facility in Gauteng.
Steenhuisen said the growing investment pipeline reflected confidence in South Africa as an investment destination and underscored the need to translate commitments into tangible projects, industrial partnerships and integrated value chains.
“South Africa is open for business and is ready to work with French businesses to convert opportunities into productive investment, jobs, exports and stronger local value chains,” he said.
South Africa and France have maintained strong economic ties for decades, with French firms active across sectors including energy, transport, manufacturing, telecommunications, retail and financial services.
JN/APA