Nigeria And South Africa Partner To Forge Electric Vehicle Alliance

South Africa and Nigeria Set to Forge Electric Vehicle Alliance

President, Cyril Ramaphosa, announced that South Africa will collaborate with Nigeria to mobilize critical minerals, particularly lithium, to drive the green energy transition and support the development of electric vehicles (EV) batteries.
Mr. Ramaphosa, disclosed this, yesterday, at the ongoing Nigeria-South Africa Business meeting in Pretoria.
He emphasized the need to capitalize on Nigeria’s vast lithium reserves as a cornerstone for industrialisation efforts in the EV sector; admonishing the private sector and development finance institutions to join efforts with Nigeria in building infrastructure and scaling up manufacturing capabilities in the sector.

According to him “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. We have 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,” he said.

President Cyril Ramaphosa, also assured his Nigerian counterpart of South Africa’s readiness to support Nigeria’s bid towards becoming a full-fledged member of the G20 club of the world’s major economies.
The promise was made during the official launch of South Africa’s presidency of the G20 in Cape Town, a few minutes before he received President Tinubu of Nigeria at Tuynhuys to co-chair the 11th Bi-National Commission between Nigeria and South Africa.
South Africa and the African Union are the continent’s only representatives in the G20.

President Ramaphosa said other key African countries should also be made to join the club “so that we can raise the voice from Africa, the neglected continent for the longest time.”
He narrated how he has been the lone voice for Africa in the G20 before the admission of the African Union last year after his country had pushed for it to become a member.
Meanwhile, Nigeria and South Africa have fully operationalised the Joint Ministerial Advisory Council on Industry, Trade, and Investment to enhance economic cooperation and growth between the two leading African economies.

Ramaphosa stated this, yesterday, at the Business Roundtable. On his part, President Bola Tinubu acknowledged the need for partnership between the two countries and affirmed the readiness of Nigeria to provide security, stability and rule of law for businesses to grow.
Tinubu also used the opportunity to assure South African investors of the commitment of his administration to tackle issues affecting their businesses and franchises in Nigeria. He equally said South Africa should reciprocate by allowing Nigerian businesses in South Africa, operate and flourish.