South African President Cyril Ramaphosa held meetings with several Japanese business leaders in the renewable energy and automotive sectors on Wednesday while attending the 9th Tokyo International Conference on African Development (TICAD) Summit in Yokohama, Japan.
The development follows President Ramaphosa’s strategic push to strengthen South Africa’s economy and diversify its trade partnerships by engaging with Japanese businesses, especially in response to the recent 30% increase in tariffs on exports to the U.S. market.
Japan remains a key investor in South Africa, contributing over R90 billion to the economy through 260 companies that support more than 150,000 local jobs.
Ramaphosa met with Mitsui, a key investor in Mainstream Renewable Power, which is developing a 12GW wind and solar energy pipeline in South Africa and recently secured funding for a 97.5MW solar project for Sasol and Air Liquide. He also held talks with Isuzu Motor Corporation’s President and COO, Shinsuke Minami.
Isuzu Motors South Africa (IMSA), based in Gqeberha, manufactures the 7th-generation D-MAX and serves as a strategic supply hub for Sub-Saharan Africa, exporting the D-MAX to 34 markets in the region and shipping knock-down kits to Kenya for local assembly.
In addition, Ramaphosa held a bilateral discussion with Norihiko Ishiguro, Chairman and CEO of the Japan External Trade Organization (JETRO). He is also scheduled to meet other business leaders, including Mitsubishi Heavy Industries Chairperson Seiji Izumisawa, on the sidelines of the summit.
Ramaphosa is actively working to deepen South Africa’s economic ties with Japan, aiming to boost trade and investment between the two countries. In 2024, bilateral trade between South Africa and Japan reached R132 billion, with South Africa achieving a trade surplus of R52 billion, largely driven by platinum exports.
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