INVESTMENT TO TOP AGENDA AS RAMAPHOSA HOSTS GERMANY’S STEINMEIER

CAPE TOWN – Investment is set to be the main agenda during President Cyril Ramaphosa and German President Frank-Walter Steinmeier at Tuynhuys on Tuesday.

On Sunday, Steinmeier arrived in South Africa for  three-day visit to promote closer diplomatic and economic ties.

The German president praised Ramaphosa for his action on against corruption.

Steinmeier has come with leading German business representatives.

South Africa is Germany’s biggest trading partner in Africa, Germany is the biggest economy with the EU.

It is expected that on Tuesday, the counterparts will be signing new trade and investment agreements.

President Ramaphosa has been on a mission to rack up foreign direct investment to $100 billion over the next five years.

He has managed to get $35 billion in investments.

Steinmeier is the first German head of state to visit South Africa in over twenty years.

Over 600 German companies do business in South Africa.

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