Ramaphosa strengthens ties with Japan to bolster SA's economy amid US tariff challenges

PRESIDENT Cyril Ramaphosa has met with several Japanese businesses in the renewable energy and auto sectors on the sidelines of the 9th Tokyo International Conference on African Development Summit (TICAD9) in Yokohama, Japan.

- BANELE GININDZA

This comes as Ramaphosa has embarked on a strategic mission to enhance South Africa's economic landscape and diversification strategy by courting Japanese businesses in light of the recent 30% upsurge in tariffs to the US market.

Japan is one of the major investors with more than R90 billion in the South African economy, with 260 Japanese companies, sustaining over 150 000 local jobs.

Ramaphosa met with Mitsui, the strategic investor (27.5% stake) in Mainstream Renewable Power, which currently has a 12GW SA wind solar pipeline and reached financial close on a 97.5MW solar farm for Sasol/ Air Liquide.