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Economy
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Germany commits R5.2 bn to South Africa

04 Dec 2024 - by Staff reporter
 Source: File Photo
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Germany and South Africa have reaffirmed their commitment to cooperate in several areas, including economic development and climate change.

The countries met at the 2024 Intergovernmental Negotiations on South African-German Development Cooperation, which were held from 25-27 November 2024 in Berlin.

Germany was represented by officials of the Ministry for Economic Cooperation and Development (BMZ) and South Africa was represented by officials from National Treasury.

“Germany has committed further funding of €276.5 million (R5.2 billion) for the period from 2024 to 2026.

“Both South Africa and Germany reaffirmed their commitment to the four focal areas of bilateral development cooperation, namely peaceful and inclusive societies; climate change and the just transition; sustainable economic development, training and employment, and health and pandemics,” National Treasury said in a statement on Tuesday.

The BMZ highlighted the Just Energy Transition Partnership (JET-P) as a milestone in international cooperation and emphasised Germany’s strong commitment to supporting a clean and just transition towards climate neutrality in South Africa.

National Treasury underscored the importance of the "just" component of the transition to protect livelihoods and the economic base of the coal basin in policy discussions around JET-P.

South Africa and Germany will further strengthen their existing bilateral development cooperation in technical and vocational education and training and skills development.

“This will be complemented by additional initiatives, focusing on pathways from learning to earning. In recognition of South Africa's significant efforts to strengthen governance and combat gender-based violence, the BMZ made additional commitments in the areas of violence and crime prevention, SDG [Sustainable Development Goals] implementation, and anti-corruption,” Treasury said.

Both the BMZ and National Treasury highlighted the more than 30 years of joint development cooperation as important for the furtherance of the interests of the respective countries.

With South Africa’s G20 Presidency, both countries said they looked forward to deepening their cooperation on international topics, such as fighting climate change and ensuring just energy transitions. – SAnews.gov.za

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