South Africa considering lithium investment for EV revolution, backs Nigeria’s bid to join G20 economies

*South African President Cyril Ramaphosa expresses the country’s interest in collaborating with Nigeria to harness critical minerals, especially lithium, to drive the green energy transition and support the development of Electric Vehicle batteries on the am African continent

Isola Moses | ConsumerConnect

South African President Cyril Ramaphosa has expressed the country’s interest in collaborating with Nigeria to harness critical minerals, particularly lithium, to drive the green energy transition and support the development of Electric Vehicle (EV) batteries.

Ramaphosa disclosed this Tuesday, December 3, 2024, in Cape Town, South Africa, at the Nigeria-South Africa Business Roundtable.

The South African President also proposed leveraging Nigeria’s vast lithium reserves as a cornerstone for industrialisation efforts in the EV sector.

He further urged the private sector and development finance institutions to collaborate in building infrastructure and scaling up manufacturing capabilities in this sector.

Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, in a statement Wednesday, December 4, 2024, noted Ramaphosa said: “There is also much opportunity for cooperation on pharmaceuticals.

“Our two countries are strategically positioned to benefit from the rapid growth of clean energy manufacturing industries.”

The President stated: “South Africa has developed a Just Transition Framework and an Investment Plan that anticipates massive investments in renewable energy and the green economy over the next few years.

“As part of the broader global transition to a low-carbon economy, we must leverage the abundant natural resources that exist in our countries to promote green industrialisation.”

He also noted: “We should leverage each other’s capabilities in minerals processing. We must work together to ensure critical minerals are beneficiated at source.

“We call on businesses to support and involve themselves in these initiatives.”

We’ll keenly support Nigeria’s bid to join league of G20 economies, says Ramaphosa

President Ramaphosa further disclosed that South Africa would “keenly” support the bid of Nigeria, “a valued sister country”, to become a member of the G20 club of the world’s major economies.

The statement affirmed the South African President gave the promise at the official launch of South Africa’s presidency of the G20 in Cape Town, few minutes before he received President Tinubu at Tuynhuys to co-chair the 11th Bi-National Commission between Nigeria and South Africa,

He restated this stance during his tete-a-tete with President Tinubu and the expanded meeting with officials of both countries at the BNC.

South Africa and the African Union are the continent’s only representatives in the G20 as of now.

Ramaphosa also advocated that other key African countries should be admitted to the club “so that we can raise the voice from Africa, the neglected continent for the longest time.”

South Africa, he stated, has been the lone voice for Africa in the G20 before the admission of the African Union last year after his country had lobbied for it to become a member.

He further said: “We have a voice, we have a presence, and we will be the biggest growth story in years to come.

“Our population is going to grow by leaps and bounds, and therefore, as a continent, we are going to be a big noise, and we want that big noise to be recognised in the form of countries that will be part of the G20 right now.”