DIRCO
By Karabo Marifi
CAPE TOWN – Department of International Relations and Cooperation (DIRCO) announced its commitment to intensify support for local companies and State-owned enterprises in seizing significant business opportunities across Africa.
The pledge was made by DIRCO Minister, Ronald Lamola, who addressed Parliament on Thursday during the Budget Vote for the 2024/25 financial year. He affirmed that the department is committed to creating a conducive environment for South African businesses in Africa, despite the department’s budget being trimmed to R6.57 billion, a 5% reduction.
Strengthening Partnerships for Economic Development
Minister Lamola emphasised the importance of bolstering partnerships within Africa to overcome business hurdles and cultivate a favourable business climate. This strengthening of ties, he explained, is fundamental for enhancing South Africa’s economic footprint on the continent.
“We are looking to strengthen our partnerships in Africa to address business challenges and create a favourable environment for conducting business,” Lamola stated.
Reflecting on the past year, the Minister highlighted South Africa’s robust investment trajectory with over 450 projects currently underway in various African nations. These achievements, he noted, are the fruits of a concentrated and coordinated investment strategy, supported by development finance institutions such as the Development Bank of Southern Africa and the Industrial Development Corporation.
Regional Cooperation and Economic Diplomacy
Lamola also placed a spotlight on deepening regional cooperation in critical sectors such as oil and gas, green hydrogen, water resources, and trade facilitation. The Minister argued that such collaborations are crucial not only for South Africa’s economic fortification but also for the upliftment of regional communities through improved livelihoods.
He cited the ongoing efforts to expedite the completion of the Lesotho Highlands Water Project Phase II and enhancing energy cooperations with Mozambique and Namibia as testament to these collaborative endeavours. Additionally, the renewed implementation of the Grand Inga Treaty with the Democratic Republic of Congo is set to be a game-changer. The Grand Inga project holds the potential to generate over 40,000 megawatts of electricity, significantly boosting the energy capacities of the Southern African Development Community (SADC) region.
With the Coordination Mechanism for Economic Diplomacy now in place, comprising both government departments and private sector entities, Minister Lamola emphasized a cohesive approach to advancing South Africa’s economic interests across Africa.
Commitment to Human Rights and Global Cooperation
Promising a foreign policy rooted in human rights and constitutional principles, Lamola articulated the Government of National Unity’s dedication to the African Agenda 2063 and the pursuit of global justice and equity.
“The aim is to work towards achieving the African Agenda 2063, promoting cooperation between the Global South and North, and fostering multilateralism,” he affirmed.
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