South Africa is now seeking to explore an investment opportunity in Nigeria’s lithium to boost the evolution of e-vehicle industrialization and transport system.

President of South Africa, Cyril Ramaphosa said his country would collaborate with Nigeria to harness lithium to drive the green energy transition and electric vehicles (EV) batteries.

The South African leader expressed his country’s interest in Nigeria’s mining sector during the Nigeria-South Africa Business Roundtable in Cape Town, while notes that Nigeria’s vast lithium reserves could serve as a cornerstone for industrialisation in the EV sector.

Also during the session, President of Nigeria, Bola Ahmed Tinubu said Nigeria is a safe haven for investments, adding that there is a guarantee for ease of doing business under his administration.

Presidential Adviser on Information and Strategy Bayo Onanuga revealed these in a statement that during the interaction, President Ramaphosa urged the private sector and development finance institutions to collaborate in building infrastructure and developing the manufacturing capabilities in this sector.

Emphasising the role of critical minerals in the global shift to a low-carbon economy, the South African leader called for collaboration in mineral processing and beneficiation at the source.

He said such partnerships would ensure that both nations maximise the value derived from their resources while bolstering their positions in the rapidly growing clean energy manufacturing sector.

President Ramaphosa alluded to the ‘South Africa’s Just Transition Framework and Investment Plan,’ which anticipates significant investments in renewable energy and the green economy over the next few years.

He said the approach aligned with global efforts to achieve sustainable development while reducing carbon emissions.

Ramaphosa also drew attention to the opportunities in pharmaceuticals, underscoring how the two countries are strategically positioned to benefit from burgeoning industries tied to clean energy and innovation.

He urged businesses from both nations to actively engage in initiatives that support green energy and sustainable industrialisation.

President Ramaphosa stressed:”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.

“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.

“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.”

Source: The Nation