South Africa’s president, Cyril Ramaphosa, has stated that the country is enhancing its security to make it a safer place for its residents and a more desirable tourist destination.
In Saudi Arabia, where he is now on an official state visit, the President spoke at the South Africa – Saudi Arabia Investment Forum.
The recent death of a German visitor during a failed hijacking at Kruger National Park in Mpumalanga has shook the South African tourism industry, with SA National Parks describing the tragedy as a “major setback” for the sector.
“[We] are a leading tourist attraction, including for Saudi Arabian and Gulf travelers. Regional tourists are particularly drawn to our wildlife tourism. Beyond the need to promote increased tourism between our two countries, Saudi enterprises have other investment options.
President Ramaphosa stated, “As we increase our own tourism industry, we must deepen and expand security to ensure that there is sufficient security to make our nation even more appealing.”
Regarding investments in renewable energy, President Ramaphosa stated that he is “looking forward” to Saudi Arabian enterprises and technologies entering the South African market.
South Africa has adopted a renewable energy policy that aims to reduce the burden on Eskom’s coal-fired power fleet and the country’s carbon impact.
“We look forward to forming partnerships with South African companies as we expand our renewable energy generation footprint and produce green energy components. “We are very glad that Saudi Arabia is well-versed in renewable energy and broad energy,” he said.
Another area of “possible synergies” between the two nations, according to President Ramaphosa, is the green hydrogen economy, which has been described as a new frontier for clean energy.
South Africa possesses, to its advantage, at least 80% of the world’s platinum group metals and 40% of the world’s platinum and palladium supply, which are essential for the manufacture of hydrogen.
“
South Africa provides enormous prospects for Saudi investors in this regard. Similarly, [Saudi Arabia’s Green Hydrogen Project] NEOM also presents prospects for South African businesses.
“We are the greatest producer of platinum in the world, a vital component in hydrogen fuel cell technology. Our ambitious aspirations to realize the potential of the green hydrogen economy include constructing a hydrogen valley that spans from our country’s platinum belt to its industrial core,” he stated.
The President emphasized that investment opportunities in the green hydrogen industry of South Africa are on the rise.
“Many multinational investors, such as yearly American platinum, have already begun to capitalize on these prospects.
“Saudi investment across the entire value chain of the green hydrogen economy would not only help South Africa’s economic aims, but also those of Saudi Arabia in his continued pursuit of sustainability,” he said.