South Africa is open for business, and is ready to work with French businesses to convert opportunities into productive investment, jobs, exports, and stronger local value chains. This was said by the Deputy Minister of Trade, Industry and Competition, Mr John Steenhuisen, during the 5th France-South Africa Business Forum held in Johannesburg yesterday.
The forum brought together French and South African businesses, investors, institutions and other stakeholders to explore business opportunities, strengthen partnerships and support investment and international expansion between the two countries.
“At the same time, we encourage our South African companies to make greater use of France as a gateway to European markets, technology, investment, and partnerships. Our ambition today should be to move from investment announcements to implementation, from commercial relationships to deeper industrial partnerships, and from individual projects to integrated value chains,” said Steenhuisen.
He added that the forum had demonstrated the substantial depth of the economic relationship between South Africa and France, while highlighting opportunities to take the relationship to the next level.
“Bilateral trade between our two countries stood at approximately 3.2 billion Euros in 2024, and French companies have built a substantial presence here in South Africa with over 480 establishments and almost 100 000 jobs created here in South Africa. Most importantly, this relationship continues to generate the investment that we need,” he said.
Steenhuisen highlighted the investment commitments made by French companies at the 2026 South Africa Investment Conference, where 30 French companies pledged approximately R20.7 billion in investments.
Steenhuisen said developments since the previous France-South Africa Business Forum demonstrated that the economic relationship was evolving beyond traditional trade towards industrialisation, technology, innovation, infrastructure and the green economy. He pointed to the R2 billion investment by French company Soufflet Malt in a new malting facility in Gauteng as one example of this deepening relationship.
“These investments demonstrate very clearly that our partnerships are evolving. They are evolving from the traditional mode of trade towards industrialisation, technology, innovation, infrastructure, and importantly, the green economy,” he said.
He also emphasised the importance of South African companies making greater use of France as a gateway into European markets, technology, investment and partnerships, as Europe assumes greater importance in South Africa’s export and industrialisation strategies.
Steenhuisen said there was also significant scope to strengthen regional value chains, with South Africa positioned to serve as a springboard into the Southern African Development Community (SADC) and the wider African market.
“We had a very interesting discussion panel that I attended on looking at corridors and how we could enhance corridor development because South Africa as a springboard into SADC is going to be massively important going forward,” said Steenhuisen.
He added that the next phase of the economic relationship should focus on translating the momentum generated through the forum into concrete projects and partnerships.
“The next chapter of South Africa’s and France’s economic relationship must be defined not simply by what we trade, but what we build on together. Working together, I believe we can really achieve so much more for our wonderful countries, our amazing businesses, but also our incredible people,” concluded Steenhuisen.