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