South Africa aims at advancing its trade and investment relations with Ghana and Nigeria as its Department of Trade and Industry (the dti) leads a delegation to the two strategic markets, Minister of Trade and Industry Dr. Rob Davies said.
The mission will seek to identify and create export markets for South African value-added products and services.
Davies added, “The mission will also create a platform to facilitate networking and the obtaining of information on the dynamics of the industries, as well as availability of partnership opportunities in both Ghana and Nigeria. It will also provide opportunities for relationship building amongst business communities”.
Ghana and Nigeria are key strategic partners for South Africa in West Africa and are pivotal partners towards advancing integration on the continent.
South Africa’s exports to Nigeria almost doubled from R5.8 billion in 2012 to R9.9 billion in 2015, accounting for 6 per cent increase in the growth rate. The two countries continuously traded goods at high capacity and Nigeria maintained the trade surplus of R23 billion in 2016.
The country’s trade of goods to Ghana reached R45.09 billion which comprised of exports valued at R4.9 billion and imports at R192 million. South Africa registered a trade surplus of R4.7 billion with Ghana in 2016.
Ghana and Nigeria can benefit from South Africa’s skills and expertise necessary the two economies diversify away from oil.
The dti investment mission to Accra, Ghana and Lagos, Nigeria will take place between 20th and 25th March 2017.
It will target Agro- Processing; Electro-technical; Infrastructure, Mining and Capital Equipment sectors under a programme which will include trade and investment seminars, site visits and business-to-business meetings.