President Cyril Ramaphosa says South Africa is extending security in the country to not only make it more secure for citizens but to also make it a more attractive tourism destination.
The President was speaking during the South Africa – Saudi Arabia Investment Forum in Saudi Arabia where he is currently on an official state visit.
The recent murder of a German tourist during a botched hijacking at the Kruger National Park in Mpumalanga has rocked the South African tourism industry with SA National Parks calling the incident a “huge setback” for the sector.
“[We] are indeed a leading tourism destination, including for visitors from Saudi Arabia and the Gulf. Our wildlife tourism is a particular draw card for tourists from the region. Beyond the need to facilitate greater tourism between our two countries, there are many investment opportunities for Saudi businesses.
“To ensure that as we grow our own tourism industry, we deepen and extend security to make sure that there’s adequate security that can make our country even much more attractive,” President Ramaphosa said.
Turning to investment in renewable energy, President Ramaphosa said he “looks forward” to seeing Saudi Arabian renewable energy firms and technologies entering the South African market.
South Africa has embarked on a renewable energy strategy which is aimed at reducing the load on Eskom’s coal fired generation fleet while also bringing down the country’s carbon footprint.
“We hope to see you partnering with South African firms, as we increase our renewable energy generation footprint and manufacture green energy components. And we are particularly pleased that Saudi Arabia is well steeped in the field of renewable energy and broad energy,” he said.
President Ramaphosa said another area of “potential synergies” between the two countries is the green hydrogen economy which has been billed as a new frontier for clean energy.
To its advantage, South Africa holds at least 80% of the world’s platinum group metals and 40% of the world’s platinum and palladium supplies which are key components in the production of hydrogen.
“Saudi investors will find substantial opportunities to leverage in South Africa in this regard. Similarly, there are opportunities for South African business to leverage at [Saudi Arabia’s Green Hydrogen Project] NEOM as well.
“We are the world’s largest producer of platinum, a key input in hydrogen fuel cell technology. Our ambitious plans to unlock the potential of the green hydrogen economy include developing a hydrogen valley that stretches from the platinum belt in our country through the country’s industrial heartland,” he said.
The President highlighted that investment opportunities into South Africa’s green hydrogen sector are already on the rise.
“A number of multinational investors like annual American platinum, have already begun leveraging these opportunities.
“Saudi investment across the value chain of the green hydrogen economy will not just support South Africa’s economic goals, but those of Saudi Arabia as well in his ongoing drive towards sustainability,” he said.
