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.

The EU-South Africa summit came at a time of "global uncertainty ... characterised by rising unilateralism, economic nationalism", South Africa's President Cyril Ramaphosa said in opening remarks that referenced a huge global shake-up since US leader Donald Trump took office.

Senior European Union officials were in South Africa for a summit Thursday with President Cyril Ramaphosa that centres on bolstering trade and diplomatic ties as both feel the impact of the Trump administration's confrontational foreign policy.

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.

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 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.