MADRID – President Cyril Ramaphosa has positioned South Africa as indispensable industrial partner for Spain and the European Union in the global energy transition, leveraging a record trade relationship to pitch transformative “next chapter” of co-investment and value-chain integration.
Addressing high-powered business forum in the Spanish capital on Friday, Ramaphosa revealed that bilateral trade hit approximately €2.8 billion in 2025, with South African exports to Spain growing by 10% to €1.3 billion—making Spain the country’s fastest-growing major trading partner in the EU.
“Our countries do not compete. We complement each other,” Ramaphosa stated, framing the relationship as a strategic alignment of South Africa vast natural resources and continental gateway position with Spain technological prowess and market access.
While celebrating strong trade figures, the President identified critical vulnerability: over-dependence on a narrow export basket.
Nearly half of South Africa exports to Spain consist of motor vehicles for goods transport.
“If we are to strengthen this relationship, if we are to make it sustainable, we must focus on diversification,” he urged.
The solution, he argued, lies in moving beyond raw material exports to building integrated manufacturing and beneficiation capacity together.
The centre piece of this vision is synergy between South Africa world-leading reserves of platinum group metals—critical for hydrogen fuel cells and clean energy—and Spain emergence as a European hydrogen powerhouse.
“South Africa brings resource base. Spain brings technological capability, investment and market access,” Ramaphosa said.
To catalyse this shift, South African delegation presented curated pipeline of 85 high-impact, investment-ready projects valued at over €62 billion.
Developed by the national investment promotion agency, InvestSA, these projects span energy transition infrastructure, green industrialisation, critical minerals beneficiation, agro-processing, sustainable fuels, and pharmaceutical manufacturing.
“We invite Spanish capital, technology and industrial expertise to partner with us in advancing these projects and building integrated value chains between our two economies,” Ramaphosa declared, highlighting policy certainty, robust legal framework, and ongoing reforms to logistics and energy systems as key investor enablers.
He pointed to existing Spanish successes as proof of concept: Acciona’s nearly 200MW wind farm projects under construction and Iberdrola’s landmark Jasper Solar Plant in the Northern Cape.
Striking a firm note on global equity, Ramaphosa welcomed Spain €2.1 billion commitment to South Africa’s Just Energy Transition but called on Madrid to champion fairness within EU institutions.
He addressed concerns new regulations like the Carbon Border Adjustment Mechanism (CBAM) could punish developing economies.
“We are not opposed to the principle of carbon accountability,” he said. “What we ask is that climate measures be accompanied by the necessary climate finance, technology transfer and transitional arrangements.”
Beyond bilateral ties, Ramaphosa emphasised South Africarole as a gateway to the African Continental Free Trade Area (AfCFTA), a market of over 1.4 billion people with a combined GDP exceeding $3.4 trillion.
“We are two economies with the potential to build value chains that serve markets far beyond our own borders,” he concluded, inviting Spanish companies to be “co-builders of industries that will serve our people and yours for generations.”
The forum concluded with business-to-business engagements, signalling a move from high-level dialogue to the concrete deal-making that will define this strategic partnership’s future.
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