Deputy President Paul Mashatile on Tuesday expressed confidence in South Africa and France strengthening their economic links and encouraging closer cooperation, as his trip to the European country saw him meet with South African and French businesspeople. 

Mashatile left for his working visit to France on Monday, with the aim of strengthening relations between the two countries and mobilising investment, this as President Cyril Ramaphosa undertakes a working visit to the US to improve relations between both countries.

Mashatile was speaking during a roundtable breakfast dialogue hosted by business federation MEDEF International in Paris, where he announced that the South African government was committed to spending more than R940-billion on infrastructure over the next three years.

He said this funding would revitalise South Africa’s roads and bridges, build dams and waterways, modernise the ports and airports, and power the country’s economy.

“Moreover, investors have an opportunity to collaborate with the South African government by investing in infrastructure such as ports, rail, electricity, and manufacturing to improve local value-addition and boost trade under the African Continental Free Trade Area,” he said.

He also touched on the EU-SA Summit, which took place in Cape Town in March, where there was an announcement of the EU investment package of around R90-billion to support investment projects in South Africa.

In addition, Mashatile met with Group CEO of global investment firm Meridiam and chairman of the Global Long-Term Infrastructure Investors Association Thierry Deau.

Meridiam specialises in public infrastructure, with assets under management over €12-billion.

It focuses on long-term investments in transport, energy, social infrastructure, and environmental projects, with a commitment to sustainable development and inclusive growth.

During the meeting, Mashatile and Deau discussed the importance of collaboration between various stakeholders, including infrastructure investors, policymakers, and academia, as being crucial for promoting responsible and long-term private capital deployment in public infrastructure.