The CEOE highlights the great potential of South Africa for Spanish investment in key sectors of the country

The Director General of CEOE International, Narciso Casado, highlighted South Africa’s great potential for Spanish investment in key sectors of the country, such as renewable energy, automobiles, water and tourism, at the meetings held yesterday and today in Johannesburg, as part of the trip the Secretary of State for Trade, Xiana Méndez, is making this week to Kenya and South Africa.

The Spanish institutional delegation, which also included the Director General of the Spanish Chamber of Commerce, Inmaculada Riera, held a meeting with Spanish companies active in the country, to assess the current economic situation, the investment projects that have been launched and the growth prospects for Spanish companies operating there.

Schedule of activities

During their visit, the Spanish representatives met the Director General of the Johannesburg Chamber of Commerce and Industry (JCCI), Bernadette Zeiler; they then held a working lunch with members of the Spanish Chamber of Commerce in South Africa, including the Vice-President, Tshepo Ncube and the Director, Manuela Sanchez; they also met the Executive Director of Business Leadership South Africa in Sandton, Busisiwe Mavuso.

During the meeting with Spanish companies, business opportunities and possibilities for bilateral cooperation in projects of common interest were set out. The Secretary of State, Xiana Méndez; the Spanish Ambassador to South Africa, Raimundo Robredo; the Economic and Trade Advisor, Isaac Martín; the Commercial Attaché, Natalia Cabrera; the Director of Xiana Méndez’s Office, Erik Rovina; the Director General of CEOE International, Narciso Casado; and the Director General of the Spanish Chamber of Commerce, Inmaculada Riera, took part in the event. Representatives of the leading Spanish companies operating in the country exchanged views and opinions on their experience in South Africa and discussed the prospects for growth of their investments in that country. 

The Spanish delegation also visited the facilities of IRIZAR, a bus and coach company; TORRECID, which specialises in enamels and pigments for ceramic coatings; and IBERCHEM, a specialist in fragrances and perfumes. The visit culminated in a dinner with the Spanish Ambassador to South Africa, Raimundo Robredo.

AfCFTA agreement and sectors of interest

During the various meetings held in the country, Casado emphasised that the AfCFTA (African Continental Free Trade Area) agreement is a great opportunity for South Africa, since it will allow it to boost its trade with the countries in the region and consolidate its position as a gateway to the south of the continent. “To exploit this new agreement, new infrastructure will be required, a sector to which Spanish companies can contribute,” he stressed.

In this vein, the Director General of CEOE International said that South Africa is the leading country for Spanish investment in Sub-Saharan Africa, focusing on sectors such as renewable energies, water, the automotive sector and tourism. Casado pointed out that the Business Confederation supports an increased presence of Spanish companies on that continent, and we are committed to organising more business meetings with African countries.

However, numerous activities have already been conducted with the country in recent years, such as a trip by the business delegation to South Africa in 2017 led by the CEOE; or the visits to Spain by the Secretary of State of the Ministry of International Relations and Cooperation of that country and the CEO of the Industrial Corporation of South Africa (IDC) in 2018.

Given the great interest in the area, Casado explained, South Africa is one of the high-priority countries that fall within the PASE Strategy (Country with Strategic Sectoral Action) and has also been recognised as an “Anchor Country” in the 3rd Africa Plan approved by the Spanish government, in which the CEOE participates through its involvement in the Africa Round Table.