European Union leaders have announced a 4.7 billion euro ($5.1 billion) investment package in South Africa to support green energy transition and vaccine production at their first bilateral summit in seven years.

European Union leaders announced a 4.7 billion euro ($5.10 billion) investment package during a visit to South Africa on Thursday, at a time when both are on worse terms with the United States than they have been for decades.

The European Union has pledged its commitment to strengthening ties with South Africa, announcing a R94b investment package which has divided locals.

The European Union on Thursday announced a 4.7 billion euro investment pact with South Africa aimed in part at supporting the country’s just energy transition.

The European Union has pledged €4. 7 billion (R93. 5bn) to support South Africa's strategic projects, focusing on green energy transition, digital connectivity, and vaccine production. The landmark announcement came during the SA-EU Summit in Cape Town,

Trump has frozen aid to South Africa and falsely accused it of seizing private land, something that has not happened since the end of White-minority rule in 1994.

European Union leaders announced 4.7 billion euros ($5.1 billion) in investments in South Africa on Thursday to support green energy and vaccine production, and agreed to start talks on new trade deals with Africa's most advanced economy.

European Commission President Ursula von der Leyen has announced a €4.7 billion investment package for South Africa, on her visit to the country for the EU-South Africa summit.