In addition to the financial support over three years, China promised to carry out three times as many infrastructure projects across resource-rich Africa, which in recent years has become the focus of intense geopolitical competition between global powers such as China, Europe and the US.
Without providing details, Ramaphosa said South Africa had reached an agreement with China on aspects of its energy security. He said South Africa could learn from China on reforming its energy sector.
“They already have done exactly what we are seeking to do. So there are lessons for us to learn from China and how to do it,” he said.
Ramaphosa also said South Africa would look to attract China’s electric vehicle manufacturers including its largest, BYD.
“We had good exchanges with BYD, which has shown a great interest to invest in South Africa.”
