Business

…supports Nigeria’s bid to join G20

PRESIDENT Cyril Ramaphosa has expressed South Africa’s interest in collaborating with Nigeria to harness critical minerals, particularly lithium, to drive the green energy transition and support the development of electric vehicles (EV) batteries. He disclosed this on Tuesday in Cape Town, South Africa, at the Nigeria -South Africa Business Roundtable. He proposed leveraging Nigeria’s vast lithium reserves as a cornerstone for industrialisation efforts in the EV sector. He urged the private sector and development finance institutions to collaborate in building infrastructure and scaling up manufacturing capabilities in this sector. “There is also much opportunity for cooperation on pharmaceuticals. Our two countries are strategically positioned to benefit from the rapid growth of clean energy manufacturing industries. “South Africa has developed a Just Transition Framework and an Investment Plan that anticipates massive investments in renewable energy and the green economy over the next few years. “As part of the broader global transition to a low-carbon economy, we must leverage the abundant natural resources that exist in our countries to promote green industrialisation. “We should leverage each other’s capabilities in minerals processing. We must work together to ensure critical minerals are beneficiated at source. We call on businesses to support and involve themselves in these initiatives,” President Ramaphosa said. President Ramaphosa also disclosed that South Africa will “keenly” support the bid of Nigeria, “a valued sister country”, to become a member of the G20 club of the world’s major economies. He gave the promise at the official launch of South Africa’s presidency of the G20 in Cape Town, few minutes before he received President Tinubu at Tuynhuys to co-chair the 11th Bi-National Commission between Nigeria and South Africa, President Ramaphosa reiterated this stance during his tete-a-tete with President Tinubu and the expanded meeting with officials of both countries at the BNC. South Africa and the African Union are the continent’s only representatives in the G20. Ramaphosa said other key African countries should also be admitted to the club “so that we can raise the voice from Africa, the neglected continent for the longest time.” He noted that South Africa had been the lone voice for Africa in the G20 before the admission of the African Union last year after his country had lobbied for it to become a member. “We have a voice, we have a presence, and we will be the biggest growth story in years to come. “Our population is going to grow by leaps and bounds, and therefore, as a continent, we are going to be a big noise, and we want that big noise to be recognised in the form of countries that will be part of the G20 right now,” he said at the official launch of the G20 presidency. 

4th December, 2024.C.E

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