British Prime Minister Keir Starmer
British Prime Minister Keir Starmer arrived in Johannesburg on Friday with a slate of new initiatives aimed at unlocking private capital, boosting trade and accelerating job creation in South Africa, ahead of the G20 leaders’ summit.
Positioning the United Kingdom as a long-term partner in South Africa’s economic recovery, Starmer announced partnerships spanning small business development, technology, rail reform, insurance and defence — collectively signalling a deepening of economic ties between the two countries.
“The UK remains committed to supporting South Africa’s efforts to reduce inequality and reach its economic growth ambitions,” the British High Commission in Pretoria said in a statement. “Working alongside South African businesses to advance shared priorities is central to this.”
The most significant move is a new start-up support programme launched with Anglo American, backed by more than R100 million in UK funding.
The scheme will offer South African small and medium enterprises tailored business development support and match them with investors, to unlock about R500 million in private finance and create more than 4 800 jobs.
In another push to accelerate the country’s tech ecosystem, the UK has partnered with the Johannesburg Stock Exchange to help local start-ups become investor-ready.
Over the next year, selected ventures will receive training, capital-matching opportunities and access to listings through the JSE’s Private Placements Platform and Alternative Exchange. A separate partnership with Telkom will focus on AI enablement to help start-ups build scalable, tech-driven businesses.
A first-of-its-kind Lloyd’s of London syndicate will also be established in Johannesburg – a global first – enabling local underwriting capability and expanding insurance options for South African firms.
Starmer is expected to meet SME founders and innovators at a business engagement later on Friday to discuss the impact of these new partnerships.
“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,” he said.
Starmer will further announce a new agreement with Crossrail International to provide British technical expertise for South Africa’s rail reform, opening the way for private investment and new infrastructure development.
With annual trade between the two countries already exceeding R250 billion, the UK and South Africa have also finalised a new Authorised Economic Operator Mutual Recognition Arrangement.
The deal is expected to cut red tape, reduce costs, and simplify border processes for accredited businesses, benefiting 99 South African exporters to the UK, including Harntech, Chebo-Pele, and Biggi Brands.
In defence, UK firm Babcock has secured its first South African contract and will upgrade the country’s fleet of Type 209 submarines, a move expected to support job creation and enhance maritime security.
“These announcements underscore the UK’s commitment to deepening economic ties with South Africa and advancing shared priorities at the G20 Leaders’ Summit,” the British High Commission in Pretoria added.