Business leaders explore opportunities across energy, infrastructure, manufacturing, agriculture and technology as bilateral economic cooperation deepens
Seen Here: Luthando Vuba_Head of International Trade at Business and Commercial Banking, Standard Bank Group Photo Credit: Supplied
JOHANNESBURG — 29 September 2026 — Trade and investment relations between France and South Africa are gaining momentum as business and government leaders convene for the 5th France-South Africa Business Forum, with discussions focused on expanding commercial cooperation and unlocking new opportunities across strategic sectors of the economy.
The forum comes as both countries seek to strengthen partnerships in areas including energy transition, infrastructure, industrialisation, manufacturing, logistics, skills development and innovation.
France remains an important economic partner for South Africa, with French companies contributing investment, expertise and employment across a range of industries.
According to the French Ministry for Europe and Foreign Affairs, nearly 480 French companies and subsidiaries operate in South Africa, representing approximately €4.3 billion in French foreign direct investment stock and employing more than 65,000 people across sectors including energy, transport, logistics, manufacturing, pharmaceuticals and financial services.
Business France reports that almost 5,000 French companies export to South Africa, reflecting the depth of commercial engagement between the two markets.
Since 2019, French companies have invested approximately R166 billion in South Africa, according to Business France, highlighting the country’s importance as both an investment destination and a potential gateway into wider African markets.
A Partnership Moving Beyond Trade
The relationship between France and South Africa increasingly extends beyond conventional trade flows, encompassing industrial development, technology, infrastructure and the transition towards a lower-carbon economy.
Luthando Vuba, Head of International Trade at Business and Commercial Banking at Standard Bank Group, says the economic relationship has evolved into a broad-based partnership.
“The France-South Africa relationship has evolved into a broad-based economic partnership spanning trade, investment, industrial development and innovation.”
Vuba says French businesses continue to play a role in sectors central to South Africa’s development objectives, while South African companies are increasingly exploring international markets to expand and strengthen their competitiveness.
The forum therefore provides a platform for businesses and institutions to identify areas where investment, expertise and market access can be combined to support longer-term economic growth.
Energy Transition Creates New Investment Opportunities
The energy transition is emerging as one of the most significant areas of potential cooperation.
South Africa’s renewable-energy ambitions, critical mineral resources and developing green hydrogen economy have attracted increasing international interest, while European economies are seeking secure and sustainable energy and mineral supply chains.
In March 2025, the European Union announced a €4.7 billion Global Gateway Investment Package for South Africa, focused on supporting the country’s just energy transition, connectivity infrastructure and pharmaceutical-sector development.
Of the package, approximately €4.4 billion is earmarked for clean-energy initiatives, including critical raw materials and green hydrogen value chains.
The investment framework could create opportunities across renewable energy, green hydrogen, critical minerals, logistics and advanced manufacturing.
For South Africa, the opportunity extends beyond resource extraction.
Greater local beneficiation and value addition could enable the country to capture more economic value from its mineral resources by developing processing, refining and manufacturing capabilities closer to source.
“Europe’s growing focus on energy security, critical minerals and clean industrial development presents meaningful opportunities for greater collaboration between African and European businesses,” says Vuba.
Agriculture Moves Up the Opportunity Agenda
Agriculture and agri-processing are also emerging as important areas for potential bilateral cooperation.
Opportunities span food processing, cold-chain logistics, agricultural technology, renewable-powered irrigation and value-added agricultural exports.
For businesses, investment in these areas can contribute to more resilient supply chains while supporting food security and increasing the value generated from agricultural production.
The intersection between agriculture, technology, renewable energy and logistics also creates opportunities for innovative business models that can improve efficiency across the agricultural value chain.
Infrastructure and Industrial Capacity
Infrastructure development remains another critical component of the economic relationship.
Investment in transport, logistics, manufacturing and trade infrastructure is essential to improving South Africa’s competitiveness and strengthening connections between producers, markets and consumers.
Efficient logistics networks and resilient supply chains are particularly important for businesses seeking to increase trade between South Africa, France and the broader European market.
The forum’s focus on infrastructure and logistics reflects the growing recognition that trade agreements and investment commitments require efficient physical and commercial infrastructure to translate into sustained economic activity.
AfCFTA Opens a Wider Regional Market
South Africa’s position within the African Continental Free Trade Area (AfCFTA) also adds a broader regional dimension to the France-South Africa relationship.
As implementation of the AfCFTA progresses, South Africa can potentially serve as a platform through which international businesses engage with wider African markets while developing regional value chains.
According to the Afreximbank African Trade Report 2024, intra-African trade accounted for approximately 15% of Africa’s total trade in 2023, indicating substantial room for deeper regional integration.
However, financing remains a major constraint.
Africa’s trade-finance gap is estimated at more than US$80 billion annually, with small and medium-sized enterprises among those most affected.
Closing this gap will be important if smaller businesses are to participate more meaningfully in regional and international value chains.
For financial institutions, this creates an opportunity to support businesses through trade finance, investment facilitation, cross-border payments and market-access solutions.
Finance as an Enabler of Trade
Vuba says stronger commercial partnerships will require more than capital alone.
“Partnerships that bring together investment, expertise, innovation and market access will be essential to unlocking sustainable growth across Africa.”
He says the France-South Africa Business Forum provides an important platform for strengthening commercial relationships, identifying investment opportunities and supporting longer-term economic cooperation between businesses in both markets.
As one of the Platinum Sponsors of the 5th France-South Africa Business Forum, Standard Bank is supporting efforts to deepen commercial engagement between South Africa and France.
The bank operates across 21 countries in Africa and international financial centres, working with businesses, investors and institutions to facilitate trade and investment flows, support market access and connect commercial opportunities between South Africa, Europe and the wider African continent.
Building the Next Phase of Economic Cooperation
The France-South Africa economic relationship is entering a period in which the focus is increasingly extending beyond bilateral trade towards industrial partnerships, sustainable investment, technology transfer, skills development and regional market access.
Energy transition, critical minerals, infrastructure, agriculture, manufacturing and technology represent areas where the interests of businesses in both markets increasingly intersect.
For South Africa, deeper engagement with France and Europe offers opportunities to attract investment, strengthen industrial capabilities and connect domestic businesses to international markets. For French companies, South Africa provides access to an established economy and a potential platform for broader engagement across the African continent.
The 5th France-South Africa Business Forum therefore arrives at a pivotal point in the relationship, providing business and government leaders with a platform to translate shared economic interests into practical commercial partnerships.
The opportunity is no longer simply about trading between two countries—it is about building the investment, industrial and commercial connections that can support the next generation of growth between South Africa, France and the wider African market.
