President Cyril Ramaphosa has held talks with Japanese companies as a part of efforts to draw new markets amid US tariff challenges
South African President Cyril Ramaphosa has met with a number of Japanese companies within the renewable power and auto sectors on the sidelines of the ninth Tokyo International Conference on African Development Summit (TICAD9) in Yokohama, Japan.
This comes as Ramaphosa has launched into a strategic mission to boost South Africa’s financial panorama and diversification technique by courting Japanese companies in mild of the latest 30% upsurge in tariffs to the US market. Japan is likely one of the main traders with greater than R90 billion within the South African economic system, with 260 Japanese corporations, sustaining over 150 000 native jobs.
Ramaphosa met with Mitsui, the strategic investor (27.5% stake) in Mainstream Renewable Power, which presently has a 12GW SA wind photo voltaic pipeline and reached monetary shut on a 97.5MW photo voltaic farm for Sasol/AirLiquide. Mitsui is a high tier sg shsha-Japanese wholesale corporations that commerce in a variety of merchandise and materials-with a pronounced tilt towards next-generation fuels and decarbonisation options.
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Ramaphosa additionally held a bilateral assembly with President and Chief Operating Officer of Isuzu Motor Corporation, Shinsuke Minami, on the margins of the Summit.
The Isuzu Motors South Africa (IMSA) has a producing base in Gqeberha, Eastern Cape which produces the Seventh-generation D-MAX after a R1.2bn plant improve (new physique store, chassis line, paint-shop upgrades). IMSA is positioned as a provide hub for Sub-Saharan Africa-exporting D-MAX to 34 regional markets and delivery KD kits to Kenya for native meeting.
Ramaphosa additionally has a scheduled assembly with Japanese enterprise leaders, together with an engagement with Mitsubishi Heavy Industries chairperson, Seiji Izumisawa, on the Summit’s sidelines. A high-level South African enterprise delegation accompanies him to discover additional investments. Ramaphosa additionally held a bilateral assembly with Norihiko Ishiguri, chair and CEO of Japan External Trade Organisation (JETRO).
The Presidency mentioned that Ramaphosa was advancing South Africa’s Presidency of the G20 and bilateral financial engagements with the federal government and business leaders of Japan, with a view to strengthening commerce and funding ties between South Africa and Japan.
An analyst highlighted South Africa’s sturdy bilateral commerce with Japan, which totaled R132 bn in 2024 and noticed South Africa document a R52 bn commerce surplus, primarily pushed by exports of platinum, with increasing agricultural commerce additionally famous with new alternatives in avocados and nuts.
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Both nations additionally collaborate extensively in science, know-how, and innovation, with a shared curiosity in fostering inclusive financial growth to stability commerce and additional strengthen their 115-year-old relations.
Entrepreneur Sibusiso Ngwenya, who’s innovating in the direction of South Africa’s first electrical automotive, on Wednesday mentioned Ramaphosa’s efforts in luring Japanese enterprise leaders to convey extra of their know-how to South Africa was a sign that the 30% US tariffs had evoked the President’s enterprise acumen.
“I trust the President’s judgement and overall strategy to get South Africa back to being profitable, particularly in the auto sector. The increased investment of Japanese automakers would help small businesses,” Ngwenya mentioned.
“We are seeing the President at work as a businessman because we are no longer forced to sustain ties with one region.”
Ngwenya mentioned the benefit with Japanese auto automotive makers was their broad vary of merchandise together with Mazda, Toyota, Isuzu and Nissan, which have been dominant within the native auto sector. “Even the German automakers sourced some components such as chassis and other technology from Japanese automakers. It is bold and decisive of South Africa to heighten ties with Japan car makers,” he mentioned.
First revealed by IOL
(RT.com)