President Cyril Ramaphosa of South Africa has expressed his country’s interest in collaborating with Nigeria to utilise critical minerals, particularly lithium, to drive the green energy transition and support the electric vehicle (EV) industry.
Speaking at the Nigeria-South Africa Business Roundtable in Cape Town, Ramaphosa emphasised the potential of Nigeria’s vast lithium reserves as a key component for industrialisation, particularly in the development of EV batteries.
He urged collaboration between the private sector and development finance institutions to build the necessary infrastructure and scale up manufacturing capabilities in the EV sector.
Ramaphosa said, “There is also much opportunity for cooperation on pharmaceuticals. Our two countries are strategically positioned to benefit from the rapid growth of clean energy manufacturing industries.
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“South Africa has developed a Just Transition Framework and an Investment Plan that anticipates massive investments in renewable energy and the green economy over the next few years.
“As part of the broader global transition to a low-carbon economy, we must leverage the abundant natural resources that exist in our countries to promote green industrialisation.
“We should leverage each other’s capabilities in minerals processing. We must work together to ensure critical minerals are beneficiated at source. We call on businesses to support and involve themselves in these initiatives,” President Ramaphosa said.
President Ramaphosa also disclosed that South Africa will “keenly” support the bid of Nigeria, “a valued sister country”, to become a member of the G20 club of the world’s major economies.
He gave the promise at the official launch of South Africa’s presidency of the G20 in Cape Town, a few minutes before he received President Tinubu at Tuynhuys to co-chair the 11th Bi-National Commission between Nigeria and South Africa.
Ramaphosa also reiterated this stance with President Tinubu and the expanded meeting with officials of both countries at the BNC.
Ramaphosa said other key African countries should also be admitted to the club “So that we can raise the voice from Africa, the neglected continent for the longest time.”
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