Spain - South Africa Business Meeting

The Director General of CEOE International, Narciso Casado, opened the meeting by saying that it represents an excellent opportunity for Spanish companies to learn more about the business and investment opportunities South Africa offers in sectors such as renewable energies, automotive, infrastructure, finance, the blue economy and sport. He also underlined the importance of this market for Spanish companies, since it is the leading country for Spanish investment and our number one export destination in Sub-Saharan Africa. On the other hand, he referred to the launch of the new Business Council with Africa which the CEOE will set up, to exploit the Canary Islands’ strategic situation with the continent. Its aim will be to strengthen business relations between Southern Europe and Africa. Thanks to this council, our links will be strengthened with regional business organisations such as Business Unity South Africa (BUSA), with which the CEOE has a great relationship. Finally, he stressed the importance of public-private partnerships to expand the Spanish presence in the country, as was seen during the trip of the Secretary of State for Trade to South Africa in April,at which the Confederation was present.

Jaime Montalvo, the International Director of the Spanish Chamber of Commerce, recalled that trade exchanges with South Africa exceed 2 billion euros and a stock of bilateral investments are worth more than 1.5 billion euros, “South Africa has long been a, if not the, leading partner in the region, but the potential to develop these relations is enormous,” said Montalvo. The International Director of the Spanish Chamber of Commerce also referred to “Spanish companies’ ability to contribute, through investment and executing projects, to the growth and competitiveness of South Africa” and stressed the importance of the conference to “also highlight business opportunities for young people in South Africa and Spain.” 

South Africa’s Ambassador to Spain, Thenjiwe Mtintso, highlighted the importance of youth for South Africa’s future. In this regard, challenges such as youth unemployment and gender equality must be tackled. It is 46 years since the Soweto student uprising and the South African Government has launched initiatives to develop the full potential of the country’s young people. They include increasing youth entrepreneurship and reducing youth unemployment by developing industries.

The Spanish Secretary of State for Trade, Xiana Méndez, set out the importance of continuing to strengthen our strong relations with South Africa, our main export and investment destination in sub-Saharan Africa. She also underlined the high intra-industrial content of our economic relations and the importance of the country in the region due to its growth prospects, its business sector and its economic and trade integration. At the same time, she suggested that the South African Government foster public-private partnership schemes for investments in key sectors, such as renewable energy, automotive and infrastructure. Specifically, Spain can greatly help to continue with the development of the renewable energy sector thanks to its companies’ experience and know-how, which have made Spain one of the countries with the largest installed capacity. On the other hand, she highlighted the fact that South Africa is a young and dynamic country that will undoubtedly succeed in tackling challenges such as youth unemployment and the digital transition. As for Spain, he highlighted the value of the ICEX Scholarships as a training programme for young professionals; they are now in their 47th edition.

This was followed by the panel about business and investment opportunities between South Africa and Spain, which was attended by the Deputy Director General for Mediterranean countries, Africa and the Middle East of Spain, Ana de Vicente, and the Director of Investment Promotion of the Department of Trade, Industry and Competition of South Africa (DTIC), Annelize van der Merwe. Opportunities in sectors such as renewable energy, water, tourism and agriculture were set out. It was stressed that supporting these sectors will contribute to the country’s sustainable development and decarbonisation, as well as to empowering young South Africans.

This was followed by a panel about business opportunities for young people in South Africa and Spain, which was attended by the President of the Spanish Confederation of Young Entrepreneurs’ Associations (CEAJE), Fermín Albaladejo, the Director of the LaLiga Office in South Africa, Marcos Pelegrín, the Vice-President of South Africa’s National Youth Development Agency, Karabo Mohale and the young entrepreneur from MBT Fuels, Onnica Toko. Throughout the workshop, stress was placed upon how companies can collaborate in empowering young people, closing the gender gap and boosting youth entrepreneurship. The panel was followed by an interesting discussion moderated by IE University student Baphumuzile Biyela, and the ICEX scholarship holder at the Spanish Economic and Commercial Office in South Africa, Francisco Javier González, who explained the opportunities offered by ICEX scholarships and his work experience in the country.

Finally, the South African Deputy Minister of Foreign Affairs and Cooperation, Alvin Botes, highlighted the good relationship between South Africa and Spain, as seen in the annual consultations that will take place in the coming days. These countries are strategic partners and there are great opportunities to build upon bilateral trade and investment. Among them, he highlighted the implementation of the African Continental Free Trade Area (AfCFTA), due to which manufacturing activity in the country will grow. He also highlighted the importance the agriculture and renewable energy sectors will have in the South African agenda. On the other hand, he pointed out that youth empowerment is crucial to South Africa, which is why they have put in place numerous programmes to address this matter. Finally, he pointed to the macroeconomic improvements South Africa is achieving and which have led international rating companies to upgrade its rating.