South African President Cyril Ramaphosa announced yesterday, July 15, that the United Arab Emirates had committed to invest US$10bn in key sectors of the SA economy, one of them being tourism.
The announcement was made following Ramaphosa’s State visit to Abu Dhabi on Friday, July 13, with his counterpart, Sheikh Khalifa bin Zayed Al Nahyan.
“The leadership of the two countries reaffirmed their deep commitment to further consolidate their strong bilateral relations across a variety of fields, including trade, transport, infrastructure development, tourism, mining, investment and cultural co-operation,” commented the Presidency.
The Presidency further said that this inaugural visit to the UAE marked the beginning of a new chapter in the long-standing relations between South Africa and the UAE. The two countries pledged to work together to promote peace, stability, prosperity and tolerance in Africa and the Middle East.