European House-Ambrosetti on opportunities for Southern Africa & Europe post-COVID-19

The Southern Africa Europe CEO Dialogue took place last Friday, focusing on the untapped potential in the trade relationship between Southern Africa and Europe, despite the global economic challenges brought about by the COVID-19 pandemic. Marina Mira d’Ercole, a Senior Consultant at The European House Ambrosetti, shared insights on the main issues discussed during the two-day summit. The summit, which was launched seven years ago to enhance bilateral relations between South Africa and Italy, aimed to create a platform for fostering economic growth and development in both regions. The event has evolved over the years to include participation from European business leaders and various South African countries. This year's summit centered around exploring opportunities for economic recovery post-COVID-19. The key focus areas were infrastructure and connectivity investment opportunities in alignment with the African Continental Free Trade Agreement and energy transition initiatives. Notable attendees included Minister Pravin Gordhan and representatives from prominent companies like Bosch, Vodacom, and Lucchini RS, who discussed potential investments in these sectors. Over 250 CEOs participated in the digital summit, demonstrating a strong interest in exploring business opportunities between the two regions. European investors expressed keen interest in investing in South Africa, viewing it as a strategic entry point into other African markets. While challenges exist in facilitating investments, the overall sentiment was positive, with many companies announcing plans for further investments in 2021. Several companies, such as CNAH and Lucchini RS, revealed upcoming investment projects in South Africa, signaling confidence in the region's economic potential. Marina stressed the importance of not only focusing on fixed investments but also on revitalizing trade activities to stimulate market growth. The dialogue provided participants with valuable insights into market opportunities, laying the foundation for future collaborations and investments.