UK Prime Minister Sir has arrived in Johannesburg
this morning ahead of the G20 Leaders' Summit. He is set to
unveil a series of landmark initiatives aimed at stimulating job
creation, unlocking private capital, and strengthening economic
ties between the UK and South Africa.
The UK remains committed to supporting South Africa's efforts to
reduce inequality and reach its economic growth ambitions.
Working alongside South African businesses to advance shared
priorities is central to this.
In partnership with Anglo American, the UK is launching a
programme focused on supporting small and medium enterprise.
Backed by over R100 million in UK funding, South African
start-ups will be provided with tailored support and connections
to access capital. The programme is expected to unlock around
R500 million in private finance and create more than 4,800 jobs.
The UK has also partnered with the Johannesburg Stock Exchange to
accelerate the growth of South Africa's tech ventures. Over a
period of 12-months, start-ups will gain investor readiness
training, capital-matching opportunities, and access to listings
via the JSE's Private Placements Platform and Alternative
Exchange. An additional UK collaboration with Telkom will focus
on AI enablement for start-ups, supporting them to build
scalable, tech-enabled businesses.
Additionally, a first-of-a kind Lloyd's of London syndicate in
Johannesburg will establish local underwriting capability in a
world first that will provide South African businesses with
access to alternative insurance options.
Today, the UK Prime Minister will meet SME founders and
innovators at a business engagement to see what impact these new
partnerships will have.
Prime Minister Sir said:
Working with international partners to deliver jobs and
opportunity at home is a one-way ticket to growth…together we can
drive growth, create highly skilled jobs to drive down the cost
of living, and deliver opportunity.
The UK Prime Minister will also announce a new deal with
Crossrail International to provide British expertise for South
African rail system reform, opening opportunities for private
investment and infrastructure development.
Currently, trade between the UK and South Africa totals over R250
billion annually. To boost trade further, the UK and South Africa
have agreed an Authorised Economic Operator Mutual Recognition
Arrangement, which will cut red tape, reduce costs, and make
trade simpler and more reliable for accredited businesses. This
agreement will benefit 99 South African exporters to the UK,
including Harntech, Chebo-Pele and Biggi Brands.
In addition, UK firm Babcock is set to assist the South African
Navy in assessing the operational readiness of their Type 209
submarines and undertaking the deep maintenance of at least one
of those submarines. This is the first defense contract won by
Babcock in South Africa, strengthening security and fostering job
creation.
These announcements underscore the UK's commitment to deepening
economic ties with South Africa and advancing shared priorities
at the G20 Leaders' Summit.
