UK Prime Minister Sir Keir Starmer has arrived in Johannesburg this morning ahead of the G20 Leaders’ Summit. He is set to unveil a series of landmark initiatives aimed at stimulating job creation, unlocking private capital, and strengthening economic ties between the UK and South Africa.
The UK remains committed to supporting South Africa’s efforts to reduce inequality and reach its economic growth ambitions. Working alongside South African businesses to advance shared priorities is central to this.
In partnership with Anglo American, the UK is launching a programme focused on supporting small and medium enterprise. Backed by over R100 million in UK funding, South African start-ups will be provided with tailored support and connections to access capital. The programme is expected to unlock around R500 million in private finance and create more than 4,800 jobs.
The UK has also partnered with the Johannesburg Stock Exchange to accelerate the growth of South Africa’s tech ventures. Over a period of 12-months, start-ups will gain investor readiness training, capital-matching opportunities, and access to listings via the JSE’s Private Placements Platform and Alternative Exchange. An additional UK collaboration with Telkom will focus on AI enablement for start-ups, supporting them to build scalable, tech-enabled businesses.
Additionally, a first-of-a kind Lloyd’s of London syndicate in Johannesburg will establish local underwriting capability in a world first that will provide South African businesses with access to alternative insurance options.
Today, the UK Prime Minister will meet SME founders and innovators at a business engagement to see what impact these new partnerships will have.
Prime Minister Sir Keir Starmer said
Working with international partners to deliver jobs and opportunity at home is a one-way ticket to growth…together we can drive growth, create highly skilled jobs to drive down the cost of living, and deliver opportunity.
The UK Prime Minister will also announce a new deal with Crossrail International to provide British expertise for South African rail system reform, opening opportunities for private investment and infrastructure development.
Currently, trade between the UK and South Africa totals over R250 billion annually. To boost trade further, the UK and South Africa have agreed an Authorised Economic Operator Mutual Recognition Arrangement, which will cut red tape, reduce costs, and make trade simpler and more reliable for accredited businesses. This agreement will benefit 99 South African exporters to the UK, including Harntech, Chebo-Pele and Biggi Brands.
In addition, UK firm Babcock is set to assist the South African Navy in assessing the operational readiness of their Type 209 submarines and undertaking the deep maintenance of at least one of those submarines. This is the first defense contract won by Babcock in South Africa, strengthening security and fostering job creation.
These announcements underscore the UK’s commitment to deepening economic ties with South Africa and advancing shared priorities at the G20 Leaders’ Summit.
