President Cyril Ramaphosa on Friday alluded to a massive pipeline of 85 investment projects, valued at over €62-billion, with investment partners, emphasising that South Africa is open for business, and inviting Spanish capital not only to fund, but also partner in, long-term industrial ventures.

Speaking at the South Africa–Spain Business Forum, in Madrid, Ramaphosa said South Africa saw a strong opportunity to grow its exports to Spain and to the broader European market in several areas.

Ramaphosa explained that through the country’s investment promotion agency, InvestSA, opportunities had been developed into structured, investment-ready projects designed for partnership and phased implementation.

These projects span energy transition infrastructure, green industrialisation, critical minerals beneficiation, agro-industrial value chains, sustainable fuels, digital connectivity and pharmaceutical manufacturing.

“They are underpinned by clear policy frameworks, targeted investment incentives and dedicated one-stop facilitation mechanisms to ease implementation,” he said.

Ramaphosa said South Africa had an opportunity to connect European technological strength with African growth.

“We have an opportunity to build supply chains that are resilient, sustainable and inclusive.

“Most importantly, we have an opportunity to create prosperity that is genuinely shared in Madrid and in Johannesburg, in Seville and in Durban, in the farming towns of Andalucía and in the mining communities of Limpopo,” he stated.

In 2025, total trade between South Africa and Spain reached about €2.8-billion.

Ramaphosa said South Africa’s exports to Spain reached €1.3-billion, a 10% increase over the previous year.

“This makes Spain our fastest-growing major trading partner within the European Union. Our countries do not compete. We complement each other, demonstrating how strategic partnerships can strengthen global value chains,” he said.

More than 150 Spanish companies currently operate in South Africa, supporting more than 20 000 jobs across sectors such as renewable energy, infrastructure, financial services, technology and tourism.

Added to this is Spain’s commitment of over €2.1-billion to South Africa’s just energy transition, he explained.

“…this is directed at green hydrogen, electric vehicles, renewable energy and grid infrastructure,” he said.

However, Ramaphosa said that while South Africa and Spain’s trade relationship was strong, it remained structurally imbalanced, concentrated in a narrow range of products.

POLICY AND STRONG INSTITUTIONS

Ramaphosa assured reforms to improve the country’s logistics network, strengthen the electricity system and create a more competitive business environment.

“We are making it easier to invest, easier to trade and easier to grow,” he said.

He said as trade was expanded, the rules governing global commerce must be fair and support development.

While South Africa was committed to a just transition toward a low-carbon economy, Ramaphosa warned against new regulatory frameworks, such as the EU Carbon Border Adjustment Mechanism, being used to inadvertently punish developing economies for emissions they did not historically cause.

“We are not opposed to the principle of carbon accountability. What we ask is that climate measures be accompanied by the necessary climate finance, technology transfer and transitional arrangements that the Paris Agreement and successive COP commitments have promised,” he explained.