SA on radar of German state of Baden-Wuerttemberg

(iStock)
(iStock)

South Africa is Baden-Wuerttemberg's most important African trading partner, the German state's Minister of Economic Affairs, Labour and Housing, Dr Nicole Hoffmeister-Kraut, said ahead of a visit to SA and Ethiopia this week.

For her Africa is a continent of opportunity of increasing strategic importance for Baden-Wuerttemberg.

She will especially focus on environmental technology and the automotive industry during her visit and is accompanied by a 35-member delegation, which includes representatives of companies and business organisations.

Currently, around 100 Baden-Wuerttemberg companies are already active in South Africa and the country is considered a stepping-stone into the entire African market.

In 2018, goods worth about €1.3bn were exported from Baden-Wuerttemberg to South Africa, mostly motor vehicles and motor vehicle parts (about 51%)) and machinery (around 18%).

The most important goods SA exports to Baden-Wuerttemberg are also motor vehicles and motor vehicle parts (around 58%), followed by machines (around 21%).

"Africa offers enormous investment potential, which is still not being seized enough by Baden-Wuerttemberg companies. At the same time, a cooperation offers great opportunities for Africa to promote jobs and prosperity and to promote the continent in key issues of the future – whether it be in the field of digitisation, environmental technology or innovation," said Hoffmeister-Kraut.

With their political modernisation, reform efforts and an established middle class, South Africa and Ethiopia in particular are among the countries, which a study commissioned by her department has identified as particularly promising.

"South Africa is considered an economic and political locomotive for the continent," said the minister.

"The political situation has changed; the country is on a course of stability and on a good way to stem corruption. It is therefore exactly the right time for this trip."

* Compiled by Carin Smith

ZAR/USD
16.83
(+0.36)
ZAR/GBP
21.23
(+0.57)
ZAR/EUR
19.00
(+0.99)
ZAR/AUD
11.72
(+0.85)
ZAR/JPY
0.16
(+0.45)
Gold
1802.68
(-0.29)
Silver
18.64
(-0.18)
Platinum
835.00
(-1.41)
Brent Crude
43.32
(+0.49)
Palladium
1939.00
(+1.81)
All Share
55787.90
(-0.15)
Top 40
51536.91
(-0.04)
Financial 15
10339.64
(+0.63)
Industrial 25
77428.31
(-0.10)
Resource 10
52587.29
(-0.39)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 1873 votes
I am taking a hit, but should be able to recover in the next year
23% - 2456 votes
My finances have been devastated
34% - 3652 votes
It's still too early to know what the full effect will be
25% - 2629 votes
Vote