By Colleen Goko and Tim CocksAbout 200 companies attended an EU investment roadshow in South Africa on Monday, vying for a slice of €12bn in investments the bloc has pledged amid global rivalry over critical minerals.The EU’s first investment roadshow, hosted at the JSE, marks the first major attempt at mobilising capital under the 2025 EU-South Africa Clean Trade and Investment Partnership.In line with other African countries, South Africa wants to make moving higher up the value chain a condition of access to critical minerals needed for the energy transition, modern weapons and artificial intelligence.“Our objective is not to export raw minerals,” trade, industry and competition minister Parks Tau said in opening remarks at the event. “Our objective is beneficiation, processing and industrial development.”Supply chainsChina’s restrictions on mineral exports with potential military applications have pushed Western nations to seek alternative supply chains across Africa.David McAllister, chair of the EU parliament’s foreign affairs committee, said that with regard to critical minerals, the bloc had learnt from its experiences in diversifying away from Russian energy supplies, on which many members were heavily dependent.“The best way to decrease dependencies is to diversify, and South Africa plays an important role,” he added.Among deals already struck between the countries, a €600m framework loan to the Development Bank of Southern Africa will deliver 1,200MW of green energy and displace 3.6-million tonnes of CO2.A separate €1.48bn facility for state freight company Transnet — the first drawdown under a €1bn EU-EIB Just Energy Transition (JET) pledge — will help modernise South Africa’s port and rail network.The EU is South Africa’s largest trade and investment partner, with €46bn (R873bn) in bilateral trade flows in 2025 and more than 1,700 European companies representing more than 40% of foreign direct investment.“We’ve moved from development thinking to investment thinking,” EU ambassador Sandra Kramer said.