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Thursday, 14 July 2016

France, South Africa join hands on development

There is further room to increase bilateral trade and investment and expand cooperation between South Africa and France, particularly in energy and infrastructure, President Jacob Zuma said on Monday. Zuma, currently on his second State visit to France to meet with French counterpart President François Hollande, indicated that increased industrialisation, localisation, job creation and skills development linked to the large infrastructure and energy contracts secured by French companies remained a top priority. “French companies have acquired lucrative contracts in South Africa in the infrastructure and energy programmes, amounting to billions of rand,” he said. In a joint statement, the Presidents commended the significant participation of French companies in the development of a sustainable energy mix, including renewable and nuclear energy, in South Africa. To this end, France’s Agence Française de Développement and South Africa’s Industrial Development Corporation partnered to finance a new green credit line with Nedbank to promote the development of renewable-energy in South Africa.