In a speech given to the DRC-SA Africa Business Forum in Kinshasa, South African President Cyril Ramaphosa advocated that Africa needs to realise its economic potential. 

The meeting marked the twelfth Session of the Bi-National Commission between the Democratic Republic of Congo (DRC) and South Africa. In attendance were DRC President Felix Tshisekedi, South African and Congolese Ministers of Industry and Trade, Ebrahim Patel and Julien Paluku Kahongya, respectively, and business leaders representing the two respective countries.

Ramaphosa celebrated the DRC’s importance to Africa historically, alluding to its vast mineral capacity, which underscored a new green industrial revolution. The President also alluded to the continent’s favourable age demographic and young people’s technological skills in propelling growth on the continent.

“We have abundant mineral resources and fossil fuel reserves, large tracts of arable land, and, in many parts, abundant water supply. We have a diverse terrain that supports all manner of infrastructure development, including renewable energy,” Ramaphosa said.

Despite the positive sentiments provided in his address, Ramaphosa highlighted the ongoing challenges the continent was experiencing as a result of the Covid-19 pandemic, climate change and the rise in food and fuel prices brought on by the war in Ukraine. 

In his address, Ramaphosa urged delegates to heed the lessons that came as a result of these challenges and highlighted the need for Africa’s industrial base to deepen and grow.

“We can combine our raw materials and skills, our technology and capital, our young people and universities, in a powerful drive to industrialise,” Ramaphosa opined.

Congolese business leaders have been invited to open subsidiaries in South Africa and to invest in the country.

Ramaphosa reminded delegates of South Africa’s target of raising R2-trillion in investment over the next five years.

South Africa will host the next Joint Bilateral Working Committee before the end of 2023.