COSATU Welcomes €11.5 Billion Investment Package
The Congress of South African Trade Unions (COSATU) has welcomed the €11.5 billion European Union Global Gateway Investment Package in South Africa, announced by European Commission President Ursula von der Leyen and South African President Cyril Ramaphosa.
This investment package is expected to provide a significant boost to the economy, jobs, local businesses, and infrastructure, including energy generation capacity.
- R173 billion in a Just Energy Transition
- R24 billion in the Just Component
- R20 billion in infrastructure and connectivity
- R6 billion in building the pharmaceutical value chain
This is a welcome boost to our economy, jobs, local businesses, infrastructure, including energy generation capacity.
COSATU appreciates the commitment to raising European investments in South Africa, which will be invaluable for local jobs and communities, businesses and value chains.
Author's summary: COSATU welcomes €11.5 billion EU investment package.