Remarks by Deputy President of Republic of South Africa, His Excellency Paul Mashatile at the 2025 Edition of the Invest in Senegal Forum, Dakar
Your Excellency Bassirou Diomaye Faye, President of the Republic of Senegal;
Your Excellency Ousmane Sonko, Prime Minister of Senegal;
Esteemed Leaders and Excellencies from other Countries;
Mr Bakary Sega Bathily, CEO of Apix Senegal;
Technical Partners;
Captains of Industry and the Business Community from Africa and across the globe;
Ambassador of South Africa to Senegal, Ms Bongiwe Qwabe;
Ambassador of Senegal to South Africa, Ms Genevieve Faye Manel;
Ladies and Gentlemen,
Your Excellency, President Faye, my delegation and I are delighted to be here in this beautiful country, the Land of Teranga, and we appreciate the magnificent hospitality that you have extended to us. I bring with me the warm and fraternal greetings of your Brother, the President of the Republic of South Africa, His Excellency President Cyril Ramaphosa, to you and the great people of Senegal, on this auspicious occasion of the holding of the second edition of the Invest in Senegal Forum, under the appropriate theme of Connecting Opportunities, Building the Future.
When Prime Minister Sonko extended the invitation to me to attend and participate in this event on behalf of the Government of South Africa, I did not hesitate to grasp this major opportunity to be among all of you and other friends of Senegal.
Monsieur le Président (Mr President),
By presiding over this important Forum at this impressive Abdou Diouf International Conference Centre, under your leadership, you are ably demonstrating your resolve as Head of State to catapult Senegal as a prime destination for national and international investors. As you traverse the path of realising the Senegal Vision 2050, be assured that in South Africa, you have a partner and an ally in development and future prosperity.
We also acknowledge and applaud Senegal’s historical role as a champion of Pan-Africanism, continental unity, self-reliance, peace, stability and a torchbearer of the vision of Africa’s development. We will always remember the role that your country played in the formation of key continental institutions, from the Organisation of African Unity (OAU), its transition to being the African Union, including landmark institutions such as the New Economic Partnership for Africa’s Development (NEPAD).
Furthermore, allow me, Mr President, to take this opportunity to commend the government and people of Senegal for a successful transition following the presidential elections held in March last year, a development that entrenched your country’s reputation as a beacon of democracy and hope. As South Africa, we also held our own general elections last year, resulting in the ushering in of the seventh administration under what we call a Government of National Unity.
Mr President and Distinguished Guests,
South African and Senegalese people enjoy and cherish deep ties forged through solidarity, friendship and the common pursuit of freedom for our peoples. Senegal supported the anti-Apartheid struggle during the darkest chapter in our country’s history. You will recall that it was in Dakar, the capital of this country, that from 9 to 12 July 1987, the leaders of the African National Congress in exile met a group of white South African leaders, mainly from the Afrikaner community, among whom were those who perpetuated oppression. The Dakar Talks, as they came to be known, opened dialogue that laid one of the seeds for a post-apartheid democratic dispensation. In this regard, Dakar and Senegal have left a positive and indelible mark on the annals of our history.
Since 1994, relations between Senegal and South Africa have been solid and comprehensive. We have made tremendous progress in expanding bilateral areas of cooperation. However, we recognise that a lot of scope remains to be covered for this relationship to reach higher levels.
Both countries have recently exchanged high-level visits, giving practical expression to this relationship. In April this year, our Minister of International Relations and Cooperation, Ronald Lamola, was in Dakar to co-chair with his counterpart the inaugural session of the Joint Commission for Bilateral Cooperation. Through this and other efforts, the economic relations between the two countries will move towards a higher trajectory.
Senegal is host to several South African companies, and South Africa is open for accelerated Senegalese private sector investment in our country. It is in this context that my delegation to this investment forum includes businesspeople representing many sectors who are here to explore opportunities for investment and trade, to network, and work towards securing deals. As part of the continent's developmental trajectory, the role of business should not be underestimated.
Mr President and Distinguished Guests,
Africa has made tremendous strides in the global economy. Despite challenges, the African Development Bank reported that in 2024, Africa accounted for eleven of the twenty fastest-growing economies in the world, with Senegal included on the list. This trajectory is expected to continue in 2025. In South Africa, although the growth rate is low, the government has embarked on a series of reforms and implementation of stimulus packages to boost the economy in several areas, including infrastructure development in critical areas such as roads, rail and ports, and by deepening industrialisation in areas such as manufacturing.
In terms of energy security, one of the main projects in the pipeline in South Africa is the green field deepwater port development project in Boegoebaai in the Northern Cape Province, which will also be part of the hub for green hydrogen generation. This major project would also require significant investment.
In this context, leveraging our financing institutions is imperative, and in our case, the Development Bank of Southern Africa and the Industrial Development Cooperation stand ready to explore avenues for collaboration, primarily in relation to bankable projects. Furthermore, it is essential to adapt to the emerging digital economy as it provides opportunities for upscaling small and medium-sized enterprises.
As African countries, we need to strengthen partnerships among ourselves and with businesses to accelerate our cooperation to maximise the vast riches our continent possesses. In this regard, the strengthening of value chains within our continent is imperative to promote beneficiation and achieve competitiveness. For instance, the increasing global interest in Africa’s mineral portfolios, including rare earth minerals needed for the new global economy, is a major development to be welcomed. However, we need to tread with caution, and to mine and trade these resources on terms favourable to our countries, for the benefit of our people.
Mr President, Distinguished Guests
We have collectively worked hard to craft and finalise the African Continental Free Trade Agreement, the AfCFTA. It is now time to fully implement this agreement, which provides the leverage needed to increase intra-African trade. African countries should trade more among each other, particularly in an international environment increasingly characterised by the imposition of unilateral and prohibitive high tariff regimes by some countries.
As part of its contribution to accelerating intra-African trade, South Africa has, since the start of the preferential trade framework of the AFCFTA, on 31 January 2024, commenced exports to several countries under the mechanism. The countries include Ghana, Kenya, Rwanda, Egypt and Algeria, among others, with reciprocal imports from some of these countries.
In a rapidly changing global economy, the resilience of Africa stands out. However, we need to do more individually and as a collective to grow and expand our economies. We should nurture environments and conditions that create employment opportunities for our people, particularly the youth, and drastically eradicate poverty and hunger. No one amongst our people should be left behind in a continent as rich as ours.
Mr President,
As I conclude, I wish to reiterate that South Africa continues to advocate for cooperation and solidarity, and for mutually beneficial relations. Africa’s prospects are intertwined with the aspirations of her people. It is in this context, as Chair of the G20 this year and considering the forthcoming Summit to be held in Johannesburg next month, that South Africa has sought to deliberately ensure that Africa’s interests are taken into high consideration. As a build-up to the Summit, the work already carried out in meetings of the different thematic streams has covered some important issues of significant weight to Africa, such as financing for development, food and energy security, and climate change. We look forward to a successful Summit and to it having positive outcomes for the development of our continent.
Finally, I reiterate with profound satisfaction and gratitude the opportunity afforded to the entire South African delegation to be here in Senegal, for the extremely warm hospitality, and the excellent organisation of this Investment Forum. The outcomes from the many engagements will go a long way in upwardly propelling the economic fortunes of Senegal, South Africa and the rest of the continent.
Merci, I Thank You!
#GovZAUpdates
