UK Prime Minister Sir Keir Starmer arrived in Johannesburg this morning ahead of the G20 Leaders’ Summit, set to announce a series of major initiatives designed to stimulate job creation, unlock private investment, and reinforce economic collaboration between the United Kingdom and South Africa.
The UK continues to demonstrate its commitment to supporting South Africa’s efforts to reduce inequality, drive economic growth, and create sustainable employment opportunities. Working closely with South African businesses to promote mutually beneficial projects remains central to this strategy.
In collaboration with Anglo American, the UK is launching a dedicated programme to support small and medium-sized enterprises (SMEs). Backed by more than R100 million in UK funding, the initiative will provide start-ups with customised mentorship, capacity building, and access to capital networks. The programme is projected to unlock approximately R500 million in private finance while generating over 4,800 new jobs across the country.
The UK has also partnered with the Johannesburg Stock Exchange (JSE) to accelerate the development of South Africa’s tech ecosystem. Over a 12-month period, participating start-ups will receive investor readiness training, capital-matching opportunities, and potential access to listings through the JSE’s Private Placements Platform and Alternative Exchange. Additionally, a collaboration with Telkom will focus on AI enablement, helping young tech entrepreneurs build scalable, technology-driven businesses.
In a world-first initiative, a Lloyd’s of London syndicate is establishing local underwriting capabilities in Johannesburg. This move will provide South African companies with access to alternative insurance solutions, improving risk management and supporting business expansion.
Today, Prime Minister Starmer will meet with SME founders and innovators to observe the tangible impact of these new partnerships. He stated, “Working with international partners to deliver jobs and opportunities at home is a direct path to growth. Together, we can foster economic expansion, create highly skilled jobs, reduce living costs, and deliver sustainable opportunities for communities.”
Further announcements include a new agreement with Crossrail International to provide British expertise in reforming South Africa’s rail system. This initiative aims to attract private investment, modernise infrastructure, and enhance the efficiency of the country’s transport network.
Bilateral trade between the UK and South Africa currently exceeds R250 billion annually. To further streamline commerce, both nations have signed an Authorised Economic Operator Mutual Recognition Arrangement, which will simplify customs procedures, reduce costs, and make trade more reliable for accredited businesses. This agreement is expected to benefit 99 South African exporters to the UK, including companies such as Harntech, Chebo-Pele, and Biggi Brands.
In the defense sector, UK-based Babcock has secured its first South African contract to assist the South African Navy with the operational assessment and deep maintenance of Type 209 submarines, reinforcing national security while supporting job creation.
These strategic announcements underscore the UK’s long-term commitment to enhancing economic ties with South Africa, fostering sustainable growth, and promoting joint priorities at the G20 Leaders’ Summit.
