SA Positions Itself at Heart of African Free Trade and Green Growth

"As the most industrialised economy in Africa, we are positioning ourselves to be at the centre of this new and growing market," President Ramaphosa stated.

In his recent State of the Nation Address (SONA) delivered in Cape Town, President Cyril Ramaphosa announced significant strides towards the full implementation of the African Continental Free Trade Area (AfCFTA). This landmark initiative aims to dismantle trade barriers across the continent, fostering economic growth and regional integration.

"As the most industrialised economy in Africa, we are positioning ourselves to be at the centre of this new and growing market," President Ramaphosa stated. The AfCFTA, which came into force on 30 May 2019, is set to become the largest free trade area globally, measured by the number of participating countries. The agreement's general objectives include creating a liberalised market for goods and services and laying the groundwork for a continental customs union.

Beyond trade, South Africa is leading efforts in renewable energy and green manufacturing. "We are harnessing the sun and the wind to make the country a leader in renewable energy," the President declared. With an abundance of cheap, green energy, South Africa aims to produce globally competitive products, creating hundreds of thousands of new jobs in the process.

President Ramaphosa also emphasized sustainable development through the agricultural and mining sectors. "By supporting our farmers, improving our logistics network and rural supply chains, and opening new export markets, we can significantly expand our agricultural sector," he noted. The government is also focusing on making South Africa a leader in the commercial production of hemp and cannabis.

Additionally, the mining industry, a cornerstone of the South African economy, is being revitalized. "We are breathing new life into the mining industry, which remains one of our most important and valuable endowments," Ramaphosa said.

These initiatives highlight South Africa's commitment to not only driving regional economic integration through AfCFTA but also positioning itself as a leader in green energy and sustainable development.