Formal diplomatic relations between South Africa and France were normalised after the first democratic elections in 1994. President Mandela's State Visit to France in July 1996 and President Jacques Chirac's visit to South Africa in June 1998 brought the two countries closer together. Several high level visits have taken place to further solidify relations over the years, of which the most recent were the Official Visit by President Cyril Ramaphosa to France on 18 May 2021 and a State Visit by President Emmanuel Macron to South Africa on 28-29 May 2021 during which both Presidents discussed the international response to the covid-19 pandemic as well as bilateral and multilateral issues. The two countries maintain regular high-level bilateral relations, which include annual meetings on political, economic and defence issues and regular official visits.
There is regular high-level political dialogue between France and South Africa, strengthened by regular visits from Ministers. South Africa and France are strategic partners with bilateral cooperation encompassing many areas of mutual interest at national, regional and multilateral levels. Relations between the two countries are coordinated through a Forum for Political Dialogue (FPD), a structured mechanism that was instituted in 1997. The most recent Forum for Political Dialogue (ministerial level) took place in Pretoria on 28 February 2019.

France is an increasingly important economic partner. After being strongly affected by the pandemic, trade between France and South Africa increased by more than 20% in 2021, reaching €2.6 billion.  French exports to South Africa increased by 20% in 2021, reaching €1.6 billion and South African exports to France amounted to €1.1 billion, a surplus of some €500 million in favour of France.
South Africa remains the leading destination for French exports to sub-Saharan Africa (16%). In 2021, France was South Africa's 10th largest supplier (2.1% market share), the 3rd largest in Europe (behind Germany and Italy). “Chemicals, cosmetics and perfumes” represents the leading export item with just under 20% of the total. This is followed by industrial and agricultural machinery.
In 2020, South Africa ranked 54th among France's suppliers with a market share of 0.2%. In sub-Saharan Africa, the country is France's second largest supplier with a share of 13%. France imports transport equipment, vehicles, hydrocarbons, agri-food products (France is the main market for South African avocados), steel, precious and semi-precious stones, chemicals and aluminium from South Africa. Franco-South African economic relations are coordinated by a Joint Economic Commission whose objective is to strengthen commercial and industrial cooperation between the two countries. It organises regular meetings on issues of common interest.

France is the 14th largest foreign investor in South Africa with an investment stock of around €2.4 billion. Some 400 French companies are established in South Africa (including 29 CAC 40 companies) where they employ 65 000 people. They represent all sectors of industry and services and contribute to the industrialisation of the country. French companies in South Africa are involved in major projects in the railway, water management solutions, nuclear and renewable energy sectors.

France has been involved in flagship infrastructure projects such as the construction of the world's largest industrial gas production unit by Air Liquide, inaugurated in 2018, or the Gautrain linking Johannesburg and Pretoria (2010).  More recent projects include the acquisition of 16 separation of gas from air units by Air Liquide at the Secunda site (2020); the construction of a drinking water treatment plant in KwaZulu-Natal province completed in 2018 by Veolia Water Solution or the replacement by Framatome of six steam generators at the Koeberg plant. Finally, EDF, Engie and Total Energies will develop a  dozen wind and solar projects under the Renewable Energy Independent Power Producer Procurement Programme and the emergency programme.

At the South Africa Investment Conference held in March 2022 in Johannesburg, French companies announced more than $2 billion in new investments in health, tourism, retail, manufacturing and agribusiness.

Tourism flows from France to South Africa prior to COVID-19 amounted to more than 160 000 per annum.

South Africa, the 35th largest investor in France, is present in the pharmaceutical, communications and services sectors. The stock of South African investments in France amounted to €728m in 2021.

Franco-South African cooperation covers other areas such as science, health, education and culture. Cultural cooperation is mainly carried out through the Service de Coopération et d'Action Culturelle (SACAC) of the French Embassy, the Institut Français d'Afrique du Sud (IFAS) and the Alliance Française network. Two high schools in the cities of Johannesburg, Pretoria and Cape Town are part of this system, with some 1,500 students. Agence Française de Développement is one of the main donors of official development assistance in South Africa. Present since 1994, AFD's commitment ranks France among the largest providers of official development assistance with over €2.5 billion in funding.