COSATU Welcomes EU Investment Package
The Congress of South African Trade Unions (COSATU) has welcomed the €11.5 billion European Union Global Gateway Investment Package in South Africa.
This package, announced by European Commission President Ursula von der Leyen and South African President Cyril Ramaphosa, is expected to boost the economy, create jobs, and support local businesses and infrastructure, including energy generation capacity.
- R173 billion will be invested in a Just Energy Transition
- R24 billion will be invested in the Just Component
- R20 billion will be invested in infrastructure and connectivity
- R6 billion will be invested in building the pharmaceutical value chain
This is a welcome boost to our economy, jobs, local businesses, infrastructure, including energy generation capacity.
COSATU appreciates the investment package, which will provide invaluable boosts to local jobs and communities, businesses and value chains.
Author's summary: COSATU welcomes €11.5 billion EU investment package.