UK Prime Minister Announces Support for South African SMEs
December , 2025 : UK Prime Minister Sir Keir Starmer has announced a series of new initiatives aimed at supporting small and medium-sized enterprises, creating jobs, attracting private capital and strengthening economic cooperation between the UK and South Africa.
The announcements came as the UK Prime Minister visited South Africa for the G20 Leaders’ Summit.
Starmer said the UK remained committed to supporting South Africa’s work to reduce inequality and achieve its economic growth goals. He said working with South African businesses to advance shared priorities was central to that commitment.
As part of the new initiatives, the UK is working with Anglo American to launch a R100-million programme focused on helping SMEs access capital. The programme is expected to unlock around R500-million in private finance and support the creation of more than 4,800 jobs.
The UK has also partnered with the Johannesburg Stock Exchange to support the growth of South African technology ventures. Over a 12-month period, tech startups will receive investor-readiness training, capital-matching opportunities and access to listings through the JSE’s Private Placements Platform and Alternative Exchange.
Another partnership with telecommunications company Telkom will focus on AI-enablement for startups, helping them scale and grow.
A first-of-its-kind Lloyd’s of London syndicate will also be established in Johannesburg. The initiative will create local underwriting capability and provide South African businesses with access to alternative insurance options.
Starmer is expected to meet SMEs and innovators during a business engagement ahead of the G20 Leaders’ Summit to discuss the potential impact of the 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,” Starmer said.
The UK Prime Minister will also announce a new agreement with Cross rail International to provide British expertise in support of South African rail system reform. The deal is expected to open opportunities for private investment and infrastructure development.
Trade between the UK and South Africa currently stands at around R250-billion a year. To strengthen trade further, the two countries have agreed an Authorized Economic Operator Mutual Recognition Arrangement. The arrangement is designed to reduce red tape, lower costs and make trade simpler and more reliable for accredited businesses.
The agreement is expected to benefit 99 South African exporters to the UK, including Harntech, Chebo-Pele and Biggi Brands.
UK company Babcock is also set to upgrade South Africa’s fleet of Type 209 submarines. The project is expected to strengthen security and support job creation. It is Babcock’s first defense contract in South Africa.
The announcements highlight the UK’s efforts to deepen economic ties with South Africa and support shared priorities during the G20 Leaders’ Summit.
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