China has become one of the largest investors in South Africa’s energy sector.
Recent FDI in the country from a number of Chinese companies has been spread across the South African economy, but the energy market has featured prominently.
Suntech Power Holdings signed a memorandum of understanding (MOU) to develop solar plants with a capacity of up to 100 megawatts in South Africa, and China Longyuan Power Group has announced it will be establishing wind projects in the country.
On a recent state visit to China, South Africa’s president, Jacob Zuma, urged China to invest more in infrastructure and manufacturing in his country.
Further investments noted by fDi Markets include an MOU between South Africa’s Standard Bank Group and China Railway Group for rail and infrastructure projects in Africa. There was also a €240m loan agreement between South African mobile operator Cell C and the China Development Bank.